shown here for the purposes of illustration,
shows price has risen almost as far as it possibly can,
in the current ascending pattern.
Next, will come a sizable price breakout.
The technical expectation of the ascending
is for an ultimate sharp break to the downside.
I will tell you that if that were to occur,
the decline will happen in thin air, ( See Chart )
Note that there is nothing... in the drawn chart structure to support price.
Once a price decline enters thin air,
there would be significant downward thrust unleashed,
almost like a rocket crashing straight back to earth.
I'm not saying that this has to happen.
But I will close by warning you, that if it does occur,
there will be very little chance to get out at prices
anywhere near what they are right now.
Thus, be prepared.
If a rapid price decline starts,
it will happen suddenly,..and with very little warning.
Pattern does not complete till the all time high of 2940.91
So you are premature in your observation by less than a point.
Also, a new all time high here, would not be confirmed by some important internal divergences,
so any breakout here would be very susceptible to failure, and potentially large failure..
The prior all time high.
I will do that. Thank you very much for your input here.
this market is weird