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Stocks all-in on Trump

David Llewellyn-Smith
Wednesday 23 October 2024
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The Market Ear with some charts.

Beware rising wedges

SPX is trading tighter and tighter into the rising wedge. Highs have been losing momentum for some time and have been unable to push “properly” higher. Watch the steep short term trend line that has been in place since August lows. A close below and things risk getting “dynamic”…

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.