Exhaustion Watch: Rising Wedge still needs to resolve

• The rising wedge still needs to resolve (S&P500) and this will determine the character for the next month
• August started very strong and flipped some of the bearish medium and long term gages at least at stage of the Month. We still have time left in August.
• Gold has flipped into a positively trending Asset which still needs a monthly bull pivot to confirm
• We experienced some technical deterioration on the short term side which could flip the trend if we see confrimation next week
• The bullish flows are very 'thin' meaning that this early August bull wonder was carried by low volume and not by serious institutional money (which all seem to wait for the correction....)