Quick Markets Update

Just recently, we looked at the new sideways trading range/rectangle that had been forming just above the high of the bullish expanding falling wedge around the 415 area. Today, we got the breakout.

This rectangle is just part of the short-term rising wedge, which again is forming above the blue bull flag, creating the possible bullish rising wedge. After a possible backtest, the next important area of resistance will be the top trendline of the rising wedge. As you can see, the rising wedge is the third black consolidation pattern to have formed since the early 2024 low.