$ESA: Reality is calling...Reversal at top of wedge

Powell did the best he could, but it was always going to be lose-lose proposition for the July rate cut. With no Fed cow bells and almost zero chance of a trade deal, the negative cycle is catching up with the $ESA. I have posted in recent days on how the FANGs and chip stocks are breaking down, why continue to pay top dollar in the belief that the $ESA will continue to defy the negative earnings cycle???

We do have trend line and SSR support levels to work through before calling for a breakdown but the writing is on the wall. Upward sloping wedges almost always break downwards.