Stocks tumble 1% to end at lows as DC worries linger, Dow drops nearly 160; The Vix got above 20 today too. Take a look at the SPY Chart below. An interesting pattern has set up.
There seems to be a bearish rising wedge on the SPY, and it looks to be in a bit of trouble here. I guess the bullshit out of wall street and obamas mouth is finally taking its toll on these markets. Say no more, a break below the rising support line is bearish in my book.
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| bearish rising wedge |
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