Inverse head and shoulders may play out. I would expect to see some action before the end of the year (red vertical line) as tax season is a factor. We broke down from a descending triangle from 6k and another potential descending triangle may develop.
In short, I am seeing if we bounce off 3500-3700 support for the shoulder, or if we keep setting lower highs to form a new descending triangle in search of a new bottom.
In short, I am seeing if we bounce off 3500-3700 support for the shoulder, or if we keep setting lower highs to form a new descending triangle in search of a new bottom.
Comment:
There is also a confluence with my flag pole down to 2k from the mean line before we started the parabolic run up (see diagonal line moving up from the bottom).