Monday, March 10th. - Stock Trends, Charts, and Commentary (***If you see last week's Monday Update do a refresh: Click Here)
Another Expanding Wedge pattern now?
The update of last week's DJI chart is posted this morning (See today's second chart), but it may be the first chart that has the more finite timing.
While the DJI is showing a 16 year expanding wedge pattern, the NYA is now showing a 3 month expanding wedge pattern. The timing of the NYA Index pattern was showing that it was 1.91% away from its Upper Resistance line on Friday ... PLEASE see the first chart today for the NYA's Expanding Wedge.
(The second chart show's the Dow's 35 year chart pattern.) Technicians call the pattern on the today's charts "Expanding Wedges" and they are noted for failing to the downside after reaching their upper resistance level.
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