Bears Don’t Want To See These Charts

If you follow fintwit bears, they all point out to the rising wedge as well as the broadening formation on S&P500 that should eventually lead to the lower stock market prices. I decided to review the daily chart of S&P500 for the last 50 years to see if there were any broadening formations in the past and what was the resolution of those formations.

Here are all of the cases from the past 50+ years.

1965 – 1968

1983 – 1987

1989 – 1994

1996 – 1997

1997 – 1998

1998 – 2000

2004 – 2007

2011 – 2014

2015 – 2018

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