tag:blogger.com,1999:blog-36722043.post3035243747923548540..comments2023-06-08T06:59:14.045-04:00Comments on HORAN Capital Advisors Blog: A Rising Bearish Wedge Pattern Is Developing In the S&P 500 IndexDavid Templeton, CFAhttp://www.blogger.com/profile/08782216535717865701noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-36722043.post-28236911657028486472015-02-23T09:04:05.489-05:002015-02-23T09:04:05.489-05:00Martin,
Thanks for the comment. As with all techn...Martin,<br /><br />Thanks for the comment. As with all technical analysis, the eye is in the beholder. The reason for the chart point of view was to note the wedge was "developing". With all technical analysis, some patterns "trigger" while others are killed off by market action. In the case of the rising wedge, I do not disagree that the market could have broken out from a sideways trend. However, I do think the wedge is still developing and has not been killed off yet. On the other hand, I think it is important the market broke through the December 29th high and believe this breakout is important.<br /><br />https://picasaweb.google.com/lh/photo/-KinTg9eMd2lluulmYrE9-fYVkiwW7Qp_c9ujmbNUkg?feat=directlink<br /><br />David<br /><br />David Templeton, CFAhttps://www.blogger.com/profile/08782216535717865701noreply@blogger.comtag:blogger.com,1999:blog-36722043.post-82982664680161248472015-02-23T00:52:02.627-05:002015-02-23T00:52:02.627-05:00I disagree with this assessment. I think we were i...I disagree with this assessment. I think we were in a consolidation channel and not a wedge. It looks like time is proving it.Martin @ hellosuckers.nethttps://www.blogger.com/profile/07611967366371848288noreply@blogger.com