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Continuing analysis of trends, I looked at each blow off top, or move to highs, and calculated it's percentage in market tops from back to 1987. The luxury is I know where the top is. Current price is definitely in that range of past market tops. No matter where the price of where the top gets put in, losing the 2090 area will signal a market crash, no doubt in my mind.
I wanted to compare volatility with price action leading into trend failures. I wanted to see how complacent traders/investors were. Did they see the trend failure coming? Paying particular attention to the 2008 crisis, I can easily see distribution forming wedge patterns at market tops. This is what I would expect to see. Leading into 2008-9, I noticed...
Expecting some sideways action to slow down momentum as we approach support. The huge wedge was telling. All moves are setup first, then some sort of news gets released to create liquidity, and boom... the move happens. Don't get it twisted. Read the charts.