Publishing another SPX chart to keep track of how this wedge plays out over the next few weeks. May 19th is a huge options contract expiration date, so I would expect increased volatility around that time.
Other than that, the stock market has been stuck in this range since falling out of peak. Now remains to be seen how it reacts to the bank turmoil + the end of earnings season. I expect this to revisit the 4020 range, before bouncing and running into a final rejection and falling out of the wedge. Remains to be seen.
Other than that, the stock market has been stuck in this range since falling out of peak. Now remains to be seen how it reacts to the bank turmoil + the end of earnings season. I expect this to revisit the 4020 range, before bouncing and running into a final rejection and falling out of the wedge. Remains to be seen.
