"Island " Reversal,
one of the most technical patterns out there.
A sudden unexpected breakdown in the pattern,
at anytime would cause price to cascade literally straight down like domino's in a waterfall type decline.
Opportunistic traders who seize this "gift" opportunity to short the Nasdaq 100 right now
utilizing say SQQQ and/or TECS could be significantly rewarded beyond measure should this Reversal occur from here
as brokerage customers panic, placed on hold for an hour, trying to reach a human being on the other end of the phone.
Special thanks to Mark Rivest/Tradingview.com for his inspiration.
Go long on an upside break of last weeks high on soxs
Do not waver in your convictions.
Best of luck. I hope you are able to realize the fruits of your wisdom.
Thank you for your market analysis.
I agree with you 100%.
The VIX will be critical, in confirming a significant market decline.
The point I would make here is that you are going to have to be ahead of this decline..enter short trades now
potentially having the market continue to rise, and the short trade go against you
Honor your stops, but do not let the market fool you by a rise to new highs,
as that ultimately could be the point when the levee breaks, and the waterfall decline begins in earnest.
I think the overriding "trigger" could be the complete element of surprise,
as investors/traders come to the potential collective opinion that they have been hood winked or fooled collectively into buying an overpriced market.
I use technology stocks here, because I believe currently they show the most "risk."