$SPDR S&P 500 ETF (SPY.US)$ The falling wedge on the ADD tha...

The falling wedge on the ADD that I pointed out last night in my video played out as expected. If we move the pattern target of the symmetrical triangle down to where price double-bottomed overnight, guess where it is targeting now? It was targeting EXACTLY where price hit HOD, and still below the main previous support line of the massive rising wedge pattern. Granted, we have broken out of the descending channel, which is a bullish sign, but bulls aren't out of the woods yet and the bears are HUNGRY.

There was a small rising wedge that formed on the ADD within the first 30 minutes as well that is already breaking down.