Wild Week Ahead: The Selling Is Not Through
A lot of traders I know were thinking that a low on Monday would be it and then off to the races. I was in that camp too. The problem is the rising wedge was never broken. So what now? Pretty much the same for the SPX and GDX: another strong rise on Wednesday followed by even more severe selling toward the week’s end. I’m thinking more like the SPX 2045 area by Sept 16-19.
(Click on image to enlarge)
(Click on image to enlarge)
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