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US Equity Markets Bearish Rising Wedges Break Down

All major diversified US equity indices have now broken down below the bearish rising wedge patterns on the 60-minute time frame, giving clear sell signals immediately following the markets running into key resistance on the daily time frames. Bear trap? Maybe. However, one can second guess these patterns all day long but this is clearly an objective short entry or add-on for those that recently started scaling short as the equity markets approached the aforementioned resistance zones while approaching the "sweet spot" of these 60-minute wedge patterns.

As per this morning's video, the same low-quality stocks that lead the recent advance on the way up will likely take the lead on the way down. Quite a few unofficial trade setups were recently posted in trading room under the Swing Trading group & Day Trading group with more to come.

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Mar 8, 2016 10:28am|Categories: Equity Market Analysis|Tags: , , , , , |1 Comment

One Comment

  1. RickySixx6 March 8, 2016 10:33 am at 10:33 am

    ALL ??? GDX is poking its head… but like Lucy, it has the football in her hand w/ plenty of stick’em on her fingers before Charlie Brown is ready to Boot the living sh*T out of DUST.

    I want to hear you say it Randy…

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