MDY in Parabolic South Mode

MDY shows a bearish trend


The SPDR S&P MidCap 400 (NYSE:MDY) is an index that tracks the S&P mid-caps. Here we have the index futures on the weekly chart, and as you can see, this week we did a backtest at the highs. We have to remember that every single bearish rising wedge is imperfect.

Now with the weakness we’ve  had, we’re in confirmed breakdown mode.

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