Rising Wedge Pattern Breaks Bearishly To The Downside Jan.2,2024
I had forewarned on Trading View last week of a potential end of the year,
beginning of the new year market reversal in the US stock market
Today's trading Jan.2,2024 the,first trading day of the new year
opened with a sharp gap down break of the rising wedge patten,
and the important rising uptrend line in the S+P 500
that had been in place since late Oct. 2023. ( See Chart )
Momentum signals which had warned of this market reversal,
broke sharply to the downside this morning, confirming the
New Year's bearish market surprise to potentially hung over New Years crowd of bullish traders.
Ain't it always the way...?
SPX Last 4735.14
THE_UNWIND
WOODS OF CONNECTICUT
beginning of the new year market reversal in the US stock market
Today's trading Jan.2,2024 the,first trading day of the new year
opened with a sharp gap down break of the rising wedge patten,
and the important rising uptrend line in the S+P 500
that had been in place since late Oct. 2023. ( See Chart )
Momentum signals which had warned of this market reversal,
broke sharply to the downside this morning, confirming the
New Year's bearish market surprise to potentially hung over New Years crowd of bullish traders.
Ain't it always the way...?
SPX Last 4735.14
THE_UNWIND
WOODS OF CONNECTICUT