1. Year - Outside Year to the downside, One bar Rev Strat down
2. Month - Inside month and down, Potential one bar Rev Strat down
3. Weekly - Shooter counters hammer weekly,
4. Full Time Frame Continuity to the downside.
Short: 144.78 x 148.89
Oof this is tough. Larger Momentum divergence on the weekly chart! so its becoming more likely.
Should lead broader market down.
This could be viewed as a corrective pattern as well...
8% down then rally to all time highs?
Transports look weak, FedEx is a big component of IYT so it may just be an earnings thing.... FedEx gets dumped pre-earnings because everyone anticipates crappy earnings. Looks like it could have another leg down with a reversal next week on earning. If FedEx surprises then we'll see a big rally.
Dumped most of my stocks this morning, was hoping for a bigger...