Jaws of Death pattern playing out on the US markets. Liquidity pumped into the system has driven the index on a fa-nominal move to all time highs. Now with a sell pivot now in place on the weekly chart and a trade war raging, the short plays first target is to the point of Control at 1806. The secondary target will be somewhere between 1237 & 950 level, which is back where price was that end 2008 GFC end.
Exactly my TA, this is a textbook megaphone pattern, which often mark long term tops, major changes in trends. Curious, do you have any other great long term megaphone pattern examples that lead to massive trend reversal?