I do not believe that I have seen such a sequence of diamond patterns, such that, they form an inception diamond top (i.e. a diamond top within a diamond top).
Moreover, the diamond bottom pattern is an even more bearish sign than the diamond top. Maybe all the bearishness cancels out and the Dow rips higher.
More likely though, this will end in a violent selloff.
Holy pig! I was gonna say cow but you know... Excellent find! Yeah this can't be good. This sense of dread in my gut just won't go away and things like this confirm why. Do you feel this market is running on hope right now but looking over it's shoulder knowing there is something bad coming up fast?
@John_Q_Public, well, i think this market is running on technicals right now. and i mean to say that the high frequency machines are forcing the technical pattern at this point since participation (volume) is quite low.
something great is coming for patient bears, but will not be good for bulls thinking the last 17 false breakouts were flukes.
John_Q_Public
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@Perma_Pig, I agree. Volume has had me spooked for some time now. Just doesn't feel right. Was hoping it wasn't algos running things now but I have to agree that seems most likely. I'm a very patient bear for this coming feast. Got my bullish playbook all set to go right after that.