White lines - original rising wedge
Yellow lines - Down trend
Green line - First support
Purple line - First target or next resistance. If it breaks this line that would be a breakout of consolidation and a new ATH.
Red line - would be final target of a break and then a retracement back to yellow line would be expected.
Honestly i thought this would correct weeks ago but the big institutions see no reason to sell with the feds supporting this up. RSI says this thing has alot more room to run since it broke. out of its divergence. Dow jones transport index and Down jones banks index , both still look week. Lets see how DJI responds to bank earnings this week
Yellow lines - Down trend
Green line - First support
Purple line - First target or next resistance. If it breaks this line that would be a breakout of consolidation and a new ATH.
Red line - would be final target of a break and then a retracement back to yellow line would be expected.
Honestly i thought this would correct weeks ago but the big institutions see no reason to sell with the feds supporting this up. RSI says this thing has alot more room to run since it broke. out of its divergence. Dow jones transport index and Down jones banks index , both still look week. Lets see how DJI responds to bank earnings this week
