wacky wednesday - 380 point gain, page-8

Having broken out of the tight down sloping wedge on the S&P, the next really important test will be how it behaves on a reaction. Short term the hourly is overbought and up to the top BB while at the same time meeting the 89 ema. I would really like to see a bit of a work around the 700 mark which might end up building a very pretty H & S pattern. But at this stage I am quite impressed with the breakout.