Head and Shoulders breakdown confirmation
A head and shoulders and a double top are visible on the 30-minute chart all the way to the 4-hour chart. Today's rally retested the neckline of the head and shoulders and failed. This is a very bearish signal. If it cannot break the neckline I suspect a further leg down. This along with underperformance of small caps relative to the broader market has to lead me to take a short position.
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