Even the most notorious permabears (all of which missed this bullrun entirely) starting to talk about leveraged longs was your signal to start thinking about exit strategies. Inverted head & shoulder seems invalidated and it looks like we fell for the classic fib 0.236 bulltrap that we get in all crash patterns - also in 2014. If we get rejected by the downtrendline, expect more downside to 7200 and further to continue the pattern and see new lows.
Comment:
Trade active
Comment:
We're now at a level that the bulls need to hold for a chance to get back to 9k and possible break up from the triangle. If not, this scenario here might continue to play out.