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The S&P 500 remains within these parallel rails, and has still been unable to quite reach its 50-day SMA:
And a second structure we may discern is this ongoing contraction in price, which is forming a falling, bullish wedge:
And it is this latter structure that I would like to focus on more in the rest of tonight’s article.
So, that’s what I think. I hope everyone has a lovely evening. And let’s see if hell is let loose soon.
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You are also warmly invited to join our growing community in the Discord server (there are many public features in there). The invite link is here: https://discord.gg/58FSjcDhvG.