The bears are waltzing on this one.
I've made 8 charts using tradingview exploring the bearish indicators and chart patterns on XLE. Since I do not know a clean way of publishing them without cluttering the XLE search I just quickly made a blog and wrapped them up in a post here.
dashbridge.blogspot.com
Among some of the other patterns provided by other...
Although not a perfect pattern, this hard to see AB = CD could explain our bounce back. There may be small profit taking and hesitation induced reds at the prior highs, but the incredibly strong bounce on the pattern shows we have the potential for new highs as long as fundamental numbers and tomorrows CPI come out as good as they have been.
Make no mistake,...
A possible set-up for bearish 3 drivers is forming. The day bouncing just half a dollar above the parallel channel gives more strength to this pattern as well. The overall trend on stochastic show the momentum is declining (although maybe inevitable after the first legs jump) giving weight to an overall bearish signal. The bottom had a violent push back up...
