The Charts are giving us a very clear range that we have been in for the last 2 years. IF, the lows of this topping consolidation break then it will be a bear market crash. That easy. I have never successfully traded a whole market cycle, but it has been on my bucket list and I am excited for the trading possibilities, but also a little concerned about the world's outlook.
This could be the final countdown for a swing short, don't get complacent with this choppy market. The long term rewards can be life changing.
We are currently living at a very unique point in time. We have Triple Drive Divergences on both the MONTHLY and the 4 HOUR. This is a wonderful setup as i don't know if we have even had many triple drive monthly divergences is Incredibly RARE. And to have a confluence with a 4 hour triple drive divergence. If this range i have outlined is not respected and we get and hold above it then I would fade out of my short positions.
Good luck my friends.
We could run up before Powell speaks in the hearings. Looking for selling thereafter or before.
I am very interested in this high Volume Bar. This is most likely our sign that this little hump is done for, and we stagnate and then drop from here
These short bear rallies are not a new bull market- but they can be surprising and short covering drives them higher- Don't be fooled!
BTW current pattern looks very similar to 2000 dot-com breakup, big downdraft; terrific rally out of the hole then the H&S appears. Looks like current price pattern conforms to 20-28 May 2002 in weekly.
In 2007 we see it again, H&S from April-Dec, with the weaker, skinny right shoulder in December followed by a sale, a Fibo bounce to May 2008, then the 'h' selloff. IMO we are within 3-6 weeks of cataclysm.