Where are the stock markets going now : DOW and the WEDGE. It now seems that the long term wedge is holding. If so this is a very dangerous technical situation. A break and a daily close below the bottom line could easily start an immediate and strong bear move. The range between the lines get smaller and smaller and unless the DOW does not take a jump above the upper line there will be a powerful move on downside. The index can still balance a while within the wedge but now is the time to wake up for the bulls.

14/04/2013

DOW and the WEDGE. It now seems that the long term wedge is holding. If so this is a very dangerous technical situation. A break and a daily close below the bottom line could easily start an immediate and strong bear move. The range between the lines get smaller and smaller and unless the DOW does not take a jump above the upper line there will be a powerful move on downside. The index can still balance a while within the wedge but now is the time to wake up for the bulls.

DOW day Friday close. WEDGE LINES

DOW week Friday close. WEDGE LINES

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