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There has been a lot of chatter about the "wedge" pattern on the DJIA and the
S&P 500 Index. If one looks closely, before that pattern was violated to the
upside, you can see an ascending triangle was formed. The DJIA, a break above
7759 indicates 8400-8500 (perhaps a stretch here)....the S&P 500 a break above
950.53 looks like 1025-1050 (also a stretch). True, both patterns were small
but I interpreted them to mean the wedge everybody was talking about was
suspect.
Any comments....
Jerry
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