FMG Technical Analysis, page-9729

tomboy,

A candle formation used for illustration by you is misleading in a number of aspects what will be clear from the real FMG chart (shown below).

Here are a few trivial observations based on the real chart:

a) the SP is moving in a wedge formation, so technically speaking I would expect some resistance at the price level during today’s opening with a gap up to the previously closing price

b) but there are a couple of positives which still indicate that unnecessary for tomorrow for SP to move down:

1) the closing today is still in the uptrend

2) the closing is above of 8EMA

Hope this helps.

irynka