Market Outlook for Next Week

markets look in strong consolidation but forming a tight wedge. From far it looks like a bullish wedge ready to breakout on the upside but if you see the two major components XLE and XLF which forms the majority of SPY, they both look like the can have a pull back. Also small caps are finding tough to make new highs. See the attached chart.

XLF can come back to test 23.87

IWM can find support at 122.90

XLE on the weekly looks very weak

/ES futures can go to 2106.30