Can the Fed Beat this 'Expanding Wedge' Pattern?
If it wasn't for the Fed, this DJI chart would already in big trouble. While the yearly DJI chart does show its first 2014 tick as being inside the expanding wedge pattern, a lot of money is being pumped in to try and get the DJI back up higher.
The question will be: Will this turn out to be money well spent? I ask the question because expanding wedge patterns typically identify exhaustion levels where a pull back occurs like at labels 1 and 2.