Every touch of the trend line has been followed by a smaller spike then a much larger one. Most recent touch was a false breakdown and quick rebound just above the trendline... Crude oil typically rises and falls with equities. USOil just fell from $58 per barrel to $55 per barrel on Friday (5%). Expecting equities to be very close to a top and should move down a decent amount...
Thanks for checking out this idea. Open to constructive critiques or questions. Feel free to like and follow!
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WOW. Just realized I have this chart labeled as a short... It should have been a long as I am SHORT EQUITIES