We could call it a 123 combo mass market correction. I broke it down into smaller parts. Invalid reversal then a confirmed down signal. Clearly you can see that expanding wedge from 2018 on has some strong correlation with price action! This is a bubble popping folks, don't be fooled by false hopes. The economy will reflect all of its previous neglect into the future as usual. 2015 highs good bottom imo. Look at what happens to markets after inflation spikes. Quick corrections folks.
ive been charting a diamond pattern - assume continuation of the down trend - last 2 days were back test of lower right diamond support line. Other charting has the last 2 days the start of the last move up to either break out or reject on the upper right band and finally break to the downside. IWM already broke to the downside of its diamond pattern - usually a lead indicator or so i am told. Diamond continuation on spy measured move would take us to exactly 320 level - a level that many have spoken about
rhall6451
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@arich1282 I'm absorbing puts right now. Anything past May is pretty solid imo.
Sawyer170
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woah that's not a good outlook whatsoever haha don't you think it could be setting up for a large double bottom formation? Maybe a bullish megaphone triangle bottom?