We might see a long term of correction / consolidation. This can take some time however it's just a healthy market, when we go up we once have to go down as well. The indicators show the lower bottoms which results in a downtrend.
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Normally I look into patterns only on Dutch stocks and index, but as of Dutch ING N.V (inga) is going flat and closed today slightly higher while stochastic lowered. It got my attention to look into more detail.
The Dutch AEX-index is still going flat after hitting 484 and a bit in FTI (future contract), so did the major financial stock in the index. It goes ...
Not much into harmonic theory, but this is a clear AB=CD pattern.
Strong correlation between price action and downwards pitchfork.
RSI, Stochastic, CCI, and MACD are showing signs of retreating from their overvalued status.