http://blog.capitalmarketvision.com/
here is his take on the rising wedge I have shown
"I drew a trend line across the February-May highs to point out a possible rising wedge pattern that could be playing out, which supports the idea that we'll get another push higher into June. The legs in triangle patterns are each 3-wave moves and if you look at each move since the February high it's a 3-wave move. If today's low completed a 3-wave move down from May 2nd then we'll get another 3-wave (or something more complex and choppy) up to a final high in June. I say final because it would be the 5th wave of the rising wedge and that would complete the wave count for the rally from March 2009. But a break below 1318 at this point would effectively negate the bullish pattern and leave the bears in charge. We should know quickly on Wednesday morning." KL
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