Wedge Action on the SPX, RUT, NDX, INDU

The past 5 days of trading have created some wedge-like formations on the 15m charts. I've posted all four so you can see some key pivot areas we're about to run into. In all cases the BLUE line is the downward trend that is acting as resistance. The GREEN line is the uptrend and SHOULD act as support on those indices that are likely to hold an uptrend. A break above the BLUE that holds will confirm a break of the downtrend and will initiate a new uptrend as long as it can hold the GREEN line.

SPX 5 Day 15m



NDX 5 Day 15m



RUT 5 Day 15m



INDU (DOW) 5 Day 15m