JUNE SWOON: RISING WEDGE BREAKOUT DOWN EXTREMELY BEARISH
LOOK FOR CORRECTION TO CONTINUE AFTER A REACTION TO RETEST WEDGE TRENDLINE; STRONG RESISTANCE @25000 DOW.
LIKELY ~15-20% OVERALL CORRECTION FROM 26616 HIGH. TRADE WAR IS OVERRATED THIS PATTERN IS PRICE DRIVEN; LOOK AT BITCOIN; SAME PATTERN!
TRUE RECOVERY SOMETIME IN NOV-DEC AFTER MIDTERM ELECTIONS.
L@@K AT 2ND GRAPH ON THIS PAGE:
www.investopedia.com...y/charts/charts7.asp
LIKELY ~15-20% OVERALL CORRECTION FROM 26616 HIGH. TRADE WAR IS OVERRATED THIS PATTERN IS PRICE DRIVEN; LOOK AT BITCOIN; SAME PATTERN!
TRUE RECOVERY SOMETIME IN NOV-DEC AFTER MIDTERM ELECTIONS.
L@@K AT 2ND GRAPH ON THIS PAGE:
www.investopedia.com...y/charts/charts7.asp
Trade closed: target reached:
CALLED 24463 = HALF THE WEDGE; TARGET REACHED 24461 TODAY - NOT SHABBY.
LOOK FOR REACTION HIGH ~24975 STRONG RESIST @25K POSSIBLE PEAK ~JULY 6
NEXT LEG DOWN IN JULY WILL CARRY INDEX SIGNIFICANTLY LOWER, WHEN SELLING WAVE COMPLETED WILL RALLY TO A LOWER HIGH IN AUGUST THEN SHARPLY DECLINE IN SEPTEMBER
LOOK FOR REACTION HIGH ~24975 STRONG RESIST @25K POSSIBLE PEAK ~JULY 6
NEXT LEG DOWN IN JULY WILL CARRY INDEX SIGNIFICANTLY LOWER, WHEN SELLING WAVE COMPLETED WILL RALLY TO A LOWER HIGH IN AUGUST THEN SHARPLY DECLINE IN SEPTEMBER
Trade closed: target reached:
Reaction rally started short squeeze ongoing expect test of trendline before moving lower in July
