Buy on breakdown or more risk averse, sell the retest fail.
Ascending wedges at end of an uptrend tend to break down.
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Here is Nasdaq also exhibiting the same pattern
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SPX updated
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NQ diamond pattern + resistance line
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NQ update, 15 min pushing outside upper bollinger band. 1 hour soon to follow, this is a trap that will be sprung on bulls.
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NQ pattern retest before big drop.
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ES / S&P500 about to retest and fail
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An update on NQ and ES charts. Ascending wedge (bearish) still in play. I could see a fake breakout to the upside overnight due to FB earnings for the bearish case, and continuation once successful retest of wedge resistance line holds after breakout to the upside.
I think FB + AMZN will be used to juice NQ up and over and then the market will sell off into Friday.
NQ
ES
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NQ, pricing in AMZN failure - I think they will sell regardless of the earnings report, NQ wedge is failed retest.