Clash of the SP500 Wedges, updated.

Earlier this week I posted a chart I called 'Clash of the Wedges'.  It actually had two elements to it, the clash of the two Wedges, and the clash of the 'Lower Highs' and 'Higher Lows' trends. The Battle line on the SP500 was the June high at 1131.0 . I have re-posted the original chart below.
(Click on chart to enlarge)

As I write the battle is still going on, the high of the week has been just shy of 1128, and despite a poor set of payroll data today, the SP500 has barely moved lower, (it is currently 1120). - Net net, the data should have helped the bears, however the market is thus far holding in well, which should be encouraging for the bulls.

I want to post one more chart, which shows why for the Bulls this is a battle they dare not lose. The 2 prior rising wedge patterns, both occured in 2008, a breakdown from both patterns turned out to be very bearish indeed. 
(Click on chart to enlarge)