Courtesy of Chris Kimble.
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Notice that the markets have been a little boring of late, not much upside/downside action is taking place recently! Could it be due to the monster patterns taking shape in the Dow above?
The rising wedge pattern above reflects that key support and resistance are very near, which could be the reason the markets are so quiet. Rising wedges two-thirds of the time break to the downside. Regardless of the odds of a breakout/breakdown, the completion of this pattern would suggest the boring markets will start reflecting great movements in the months ahead!
The trade on this pattern would be to step aside now and then follow the completion of this pattern.
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