I should have pointed this out as well, the IWM wedging in a bearish ascending wedge.
When these patterns are very obvious, Technicians expect them to break straight down, however they will usually pull an upside breakout first as a head fake and knock out some early shorts betting on the pattern before falling.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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