The rising wedge
, a chartist's friend. This one is big, going back to 12/26/14. From top to bottom line: about 5647 pts
. The apex intersects on 1/10/18. Time has crept past the 64 percent move since inception, the normal upper boundary before the wedge
cracks. Will it move beyond? Possibly, because I believe a top is barreling toward us this year. Yet, price can slide across the trend line
for while. Another consideration is that the orange line represents a near channel - matching with the top trend of the RW
giving twice the resistance.
(Further, we have now hit the 100 percent move of 5/19/15 - 8/24/15, the 3001 pts
. forming the consolidation range for more than a year. Market fruit becomes more and more ripe as the days pass.)