It's just how predictable Technical Traders are and thus Wall Street.
This pattern has been known for a century to break down, so all the intraday Technical shorts pile in, Wall Street pulls their head fake and look at the volume-instant covering and of course Technical Analysis tells us that when a pattern fails, to take the other side of the trade, so guess what comes next?
Here's the link to my post of about 30 mins ago...
Excerpt from the post:
"Remember the head fake I mentioned, we have a perfect price pattern for it here in the SPY, an ascending wedge-it should through traders off by breaking to the upside first, volume and MACD both look correct for the pattern."
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