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S&P500 bearish wedge pattern on the weekly approaching pinnacle

Por johndustinsloan
The S&P500 is currently compressing into the upper portion of a bearish wedge pattern on the weekly chart. This is suggesting a possible bounce from here or possibly retest support around 3650. We likely will continue up from this bounce for 2 months with a top out price around 4100. This would not only be the top of the bearish wedge but would allow the weekly RSI to touch the upper trendline before confirming bearish divergence. Tread carefully.
Chart PatternsTechnical IndicatorsTrend Analysis
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