In the scenario that the massive builds this past five weeks were due to mess-ups with the hurricanes and import data and the bull run continues as before. This also requires republicans to win the house next week and eia -0.10% to improve dramatically.
A slightly longer version of what I'm looking for if this trade war is over.
It's an exact copy of the past leg up scrunched down to look like H+S which tend to appear when major trend-lines break and then start rallying back to the previous diagonal trend.
Trading view keeps publishing my trendlines skewed... however.
I noticed that the angle of the predominate trends supports is twice that of its resistances. Wedges always have false breakouts and I kind of guess that could mean the 2542 support because 2942 was the top. First move could be part of a 5 wave elliot upwards. dunno
I've been reading Ray Dalio's book and out of the worlds past 26 short term debt bubbles they all seem to settle around 50% loss.
If one marks this like an ABC and 50% is the 1.6 final extension of the 6 wave that conveniently places the low of the night trump was elected as point A!
Of course markets that lose that much value tend to get sold of more than ...