As you can see we have continued our way printing that nice thicc inverse head and shoulders. We had little bit of a run up yesterday and suddenly the media sentiment shifted.
DONT GET CAUGHT UP IN THE HEADLINES.
Apple will not save you, Boeing will not save you, the fed will not save you.
The top has blown off. Dont pay attention to the bull trap!
Keep your shorts and lets make some money.
Scoopity Poop Poop De Woop Poop Scoop
Darklord_
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Broke the wedge on the way down followed by a bear flag
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didnt confirm the break but wedge is still valid
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Flipped back up on that wedge, now it looksed like were doing one of these. Down at least .5% by the end of the day boys.
Descending triangle suggesting a total of 20 % retracement from the top... possible bounce on .382 fib? 2200-2300 range.
ethhunter
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What do you think?
I_I_I_I_I_I_I_I_I_I_I_I_I_I_I
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@ethhunter, I would say be careful how you interpret those fib levels. A move to the .382 level would imply a recession and a market crash, both things which are more fundamentals reliant then technical. I do think a 20% retrace from the top is possible but we are very much at a crossroads right now. This week will be crucial in respect to whether these past few months have been a scary correction or the beginning of a bear market.
ethhunter
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@DarkLord_, I'm aware of this, however this pattern is carrying a strong message and significance in my opinion though, we can't deny that. A recession is inevitable at some point. We already dropped approx 10% from ATH, I just don't see the support holding up unless some strong force steps in to save this.