Here's my weekend musings. First chart is the weekly XJO which...

Here's my weekend musings.
First chart is the weekly XJO which is still trading within its rising wedge pattern bouncing off the 50% fib line. Chances are we will test this area again next week.





Second chart is of the DJIA & shows the fib fan line now acting as resistance indicating a probable test of support below at the next line. A doji candle adds to uncertainty.





Third chart is of the SPX & here we had a reverse hammer followed by also a doji candle with a H&S pattern developing on the williams %R indicator





Finally I have included an interesting chart of Aussie oiler WPL which shows a clear downtrend after trading out of a large triangle pattern. This caught my eye as last time oil spiked so did WPL