The Stock Market 5 Wave Wedge With Extreme Greed

When the stock market shows extreme greed and the chart has an ending 5 wave wedge, it's time to pay attention.
Below are some screen shots of the fear and greed index taken from - http://money.cnn.com/data/fear-and-greed/

No matter what's bought and sold, the price turns at extremes.

Looking at the charts below the fear and greed index, the first chart is a 15 minute cycle chart showing a 5 wave wedge. The wedge is a classic ending pattern.

The boxes in the daily, weekly, monthly charts are targets ........ ASSUMING ...... the trend would continue. Doubt it though.

• One target at a time of course.

• First target 2300.

Key take away.... this is important........ if a bearish pattern doesn't go bearish. The market would be still bullish and the patterns null and void. The opposite happens on the down side as well.

http://money.cnn.com/data/fear-and-greed/

http://money.cnn.com/data/fear-and-greed/

http://money.cnn.com/data/fear-and-greed/

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