It could blast up to higher highs and invalidate for sure (this market is anything but predictable).
For the record, I'm neither a bull or bear, just an agnostic who likes to make money. Feel like this chart could be useful for bulls to consider for stops and bears to consider for shorts.
I'll be tracking this.
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Triple Top Pattern has a 77.59% success rate if confirmed.
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It made a valiant effort but it doesn't look like buyers are showing up as much these days. Next week promises to be interesting.
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Looks like the buying has run out of some steam. Next week is decisive on this.
how do you feel about it now that it broke out of the box? seems the buck dose not stop here but climbs higher
stockpreacherman
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@JGHInvestments, The thesis is invalidated. The climb continues. Based on charts, it's hard to say at the moment, but it seems most likely that the climb isn't over. Market data still seems to support that there will be a large decline in the broad equity market. Only time will tell.
JGHInvestments
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@stockpreacherman, I see the same thing - liquidating now thanx for the heads up. I was already logged on to check the same thesis and that was when I found you. it feels weird to got to cash so often lately but it has saved my ass a few times these last few years.
stockpreacherman
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@JGHInvestments, I agree. I have done the same things several times. I don't believe it's a good idea to engage in the market as a dedicated "bear" or "bull". I'm agnostic. Lost profits are lost profits, but I don't like to operate in the market unless I believe I have a clear edge. I'm happy to hold back and reenter when things feel more stable. I have managed to make a profit by doing that and utilizing reverse leveraged index ETF during the last two pronounced dips in the market.