One of my favorite chart patterns is the wedge — rising or falling — because it can usually be depended upon to resolve opposite the direction the wedge is moving. Specifically, a rising wedge will usually resolve downward and vice versa. Recently I saw some wedges developing on the SPY chart that reinforced my bearish feelings about the rally off the February lows. They have resolved as expected, but bearish expectations have not been realized. Let’s watch the evolution of the evidence.