drop, rally through September, big drop through the Fall (my opinion).
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I was heavy short (PUTS) in spy, fang, tech stocks prior to these down moves. Pay attention to this trend:
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I keep a close watch on SPY- my larger renko block chart shows a bearish stoch/rsi trend and the price is in the zone now..
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should have downward move to (E)- All the other drops were very quick - wouldn't be surprised to see another one... keep an eye on Trumps twitter page, ha!
the big Q- is this a bearish pattern or bullish? Simple answer- I don't know. I suspect it will be bearish but I also suspect some trickery. If we get a break above I will wait for it to rally and then consider increasing my short position into any rally.
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we have no confirmation of this but the measurements are not far off so far- possible xabcd bullish harmonic pattern.. these are hard to spot/trade. Butterfly patterns have a range of 1.21-1.61 X-D measure (same as the crab pattern).. but worth watching for potential buy zone around Nov..
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hmmm, I just get the feeling that something is about to happen very soon
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(d) reached. I'm now wondering if it breaks above this sym. triangle and goes for that upper pattern (circle). I'll be ready if it does