ETF update for Tuesday April 3
I put up a 240 min. chart of DIA to show a wedge pattern that is forming. We are in a congestion area right now on the ETF index's. I don't have a real opinion on the direction of the market right now, it's in a show me a direction phase right now. I will be going long on a breakout to the upside of the wedge and short below. Most foreign index's are near or at back to their highs for the year. Will they stall and reverse at resistance? Or breakthrough and send our index's high? I will be watching the foreign index's closely.
QQQQ 240 min. chart showing a wedge.
240 min. chart of SPY showing the wedge.
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