I have been watching this flag develop for some time now with Nvidia
. I believe we are now near some resolution. The entire pattern has traits similar to a IHS
. A formation not usually associated with the top of a chart. So maybe, that is not what I should be calling it. To me, it is just one of the most common patterns that regularly occurs in the market. A mechanical cog in the wheel. And, it is often found at turning points in the market. Three evenly spaced lows marked by descending volume
. Usually they form a line but not always an obvious one. One of the more interesting things about this daily line chart is the low in May becomes the high on the monthly chart.