The Bulls, Back Off

As the chart shows, we have a terminating wedge.

The prior update (here) proposed we’re in up-thrust (reversal) condition.

That set-up subsequently morphed into the wedge, shown.

Either way, we’re not far away.

Price action closed today, down 0.18-pts below the high of the last update, November 14th.

During the past two trading sessions, volume has been consecutively lower; suggesting the bulls are backing off (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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The Danger Point®, trade mark: No. 6,505,279