Stock Charts: Market Still Inside a Consolidation Zone

$SPX 15 Minute:  There are a number of possible patterns.  Below are the two I like the most.  A wedge in blue, which means we should start a sell off Monday or Tuesday.  Or an expanding of the abc pattern in green, which means we push a little higher.

$SPX 60 Minute:  We are stuck in no man's land, but price should break this soon.

$SPX Daily:  We have plenty of over head resistance if we need to bounce higher.  Since we do not have a divergence, I still like the idea of another push lower to create that divergence.  This sideways pattern is pulling the BBs together, which means we should see price move when they pinch.

$SPX Weekly:  When price has fallen below the 200 week MA it was followed by a bounce back above and a test of the 50 week MA.  I think we get the same thing this time too.  The question is do we get another push lower like I expect, then the bounce to follow?  If we get to the 50 week MA and fail, the party could be over for a while.

My Watch List:  I don't have any charts, as I'd like to see how we trade Monday.

My Trading Desk:  Friday when the market traded lower early we closed out small short of PNRA for a gain.

Happy Trading.

J.D. Rosendahl, Rosey