Rising Wedge on DJIA and S&P 500, usually a bearish signal.

We have rising wedges on the S&P 500 and the DJIA. Typically this is a bearish indicator. The DJIA is nearing a long term resistance level of 10700. The S&P 500 is nearing a short term resistance level of 1130 and a long term resistance of 1140. The Chaikin Money Flow Indicator on the DJIA has turned down and is looking extremely weak on long and short term basis. Which can also be viewed as a bearish indicator. It is also an indicator of the erosion of dollars being invested in the stock market. Also not a good singal going forward, as this may represent a significant decline in investor confidence. Without new dollars coming into the market, buying capacity is greatly diminished, making any moves up in the market weaker and weaker. Now appears to be a great time to begin unloading any long positions you may have, upside appears to be limited here. I would start checking over your watchlists for possible shorts.

Here is a link to Explanation of Rising Wedge Chart Patterns.

Here is a chart of the DJIA with the Chaikin Money Flow indicator.