We are trading inside a rising wedge.
A big breakout move is coming in the next few days/weeks.
Currently, as long as the SPX is still making new all time highs, I think we will have a small pullback towards the trendline/bottom of the wedge before breaking out to the upside.
However, it is possible that the SPX (US market) to go down after the APPLE stock split and Dow Jones Industrial rebalance.
If the US markets goes down, XJO would most likely follow.
Dow Jones Addition/Removal
#Salesforce will replace #ExxonMobil, and #Amgen will replace #Pfizer, and #Honeywell International will replace #Raytheon Technologies in the Dow Jones Industrial Average effective prior to the opening of trading on Aug. 31.
A big breakout move is coming in the next few days/weeks.
Currently, as long as the SPX is still making new all time highs, I think we will have a small pullback towards the trendline/bottom of the wedge before breaking out to the upside.
However, it is possible that the SPX (US market) to go down after the APPLE stock split and Dow Jones Industrial rebalance.
If the US markets goes down, XJO would most likely follow.
Dow Jones Addition/Removal
#Salesforce will replace #ExxonMobil, and #Amgen will replace #Pfizer, and #Honeywell International will replace #Raytheon Technologies in the Dow Jones Industrial Average effective prior to the opening of trading on Aug. 31.
