TAW Charts, page-235

Not trying to down ramp at all. Been a long time supporter and follower of TAW. Since this is the charting thread I thought I'd share my views.

After today's failure to break the long term resistance it looks to me like a rising wedge has formed. Three confirmed points of resistance which rise slower than the two points of support. We also see a negative convergence of the MACD and it appears the CMF might cross into negative territory.
Check for yourself and feel free to correct me with differing opinions: http://stockcharts.com/school/doku....analysis:chart_patterns:rising_wedge_reversal

I see three scenarios playing out:
1 -  SP breaks through resistance. I find this unlikely but possible.
2 - SP finds support again on the lower side of the wedge
3 - SP falls below the support retracing to support at (4) or (2).

Please DYOR and good luck to all holders.