SPY

For our newer members if I didn't say it, obvious pattern like this wedge get broken up before they take off, there's still a positive divergence there so we still have a very good chance of seeing an intraday move to retrace the wedge, whether that is today, or tomorrow morning, I don't know. However, anytime there's an obvious technical pattern, the black box trading algorithms that search them out, usually throw traders off by initially doing the opposite of what is expected (in this case an upside breakout), after they run the stops and limits, they usually turn the pattern to what it should do, so we can't automatically assume this is a failed pattern, in fact, we usually assume that this is the black box game and the pattern is still relevant.