The year is 2019. The market has ballooned with immense excess capital of quantitative easing. Is QE similar enough to the housing bubble to produce a similar recession when its bubble pops? Only time will tell.
look to buy the breakout (orange line) which mimics previous price action
and look to sell when price is met with resistance by the upper trendline.
my stop is going below the curve, as I expect it to hold.
UJ still holding this descending triangle, but a breakout is imminent. Conveniently, the historical S/R level represented by the dotted purple line represents flawless confluence with the .618 fibonacci retracement. Additionally, a breakout to the downside would coincide with a breakout of the current daily rising channel on DXY.
SH (short S&P500) is forming a nice falling reverse wedge pattern, also known as broadening pattern. The falling pattern is an indication that the price is likely to break out of the upper boundary. I'm personally looking for an AB=CD pattern, consolidating between 20 and 20.10, and the target at ~20.40.
HCP is trading in a short term rising channel, and since it is re-testing support-turned-resistance at 33.80-34, it is very likely to break out of the channel to the downside. The measured move takes us down to ~28.50.
The left side of the blue target box is at the number of months the 2000 dot com bubble took to reach swing low. The right side is the number of months the 2008 crisis took to reach swing low. The top of the box is the % drop of the 2000 dot com bust, and the bottom of the box is the % drop of the 2008 crisis. Interestingly, the average of the 2 is almost exactly...