SPY forming ascending wedge
Multiple ascending wedges and one rising channel formed after market volatility today pre and post Powell.
Possibilities:
1. We sell off tomorrow and gap down in the morning. (my expectation)
2. We ride the pattern and break down/out on Friday morning.
3. We ride the pattern and make it to the end of the week within the wedges/channel and sell off on Monday.
4. We continue the momentum and FOMO also kicks in and we rally tomorrow.
Possibilities:
1. We sell off tomorrow and gap down in the morning. (my expectation)
2. We ride the pattern and break down/out on Friday morning.
3. We ride the pattern and make it to the end of the week within the wedges/channel and sell off on Monday.
4. We continue the momentum and FOMO also kicks in and we rally tomorrow.
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