SPY Wedgies

Shifting the last wedge down as previously mentioned. Seems appropriate now that SPX futures are down 19 pts. The Friday high may be the resistance.

I expect the market to close the gap tomorrow, but who knows, we may have hit the top, the wedge pattern is technically complete. I mentioned Friday that it's time to start buying some puts... I hope NFLX tanks, lol.

Kommentera:

Dropped more than I thought on the initial break out of the wedge, and this back test looks weak.

If this is a true wedge breakout, then expect a target around $250. I have a feeling we're going to drift sideways like last May. I'm long on FFIV, short on NFLX. No position for indices, let's see what happens at the end of the day.