Nested triangle with descending bias

The Dow remains in a symmetrical triangle, albeit with a nested triangle that leans ever so slightly toward descending. This nested triangle qualifies as a triangle formation having two peaks and two valleys with diminishing, or consolidating, amplitude.

Perhaps this ever-tightening consolidation is the market waiting with bated breath for tomorrow's FOMC meeting.

Kommentera:

Wow! Breakdown much?!!