I updated an idea I posted at the beginning of the year, but I wanted to make a separate posting to make it clear. I looked back at the candlestick pattern from 2018 to the beginning of 2021 and replicated it on September 2022 to June 2023 (the BLUE pattern) The price prediction played out pretty well in the following months up until right now, November 4, 2023....
This super extended momentum from 2009 low has the potential to reach 5,000 levels. From 1990 to 2009, there were two major corrections ranging from 50 to 60 percent from its high. And from 2009 to 2020 and up to the present, there have been about 10 to 35 percent correction to form this impulsive wave. Assuming the SPX500 will reach 5,000 levels or 650 percent...
History - June 9th, 2020 - Aug 5th 2020 = Falling Wedge - Aug 25th, 2020 DKNG broke out of the falling wedge - Aug 25th - Oct 2nd, 2020, DKNG had a market cycle of 81% gain Present Day - June 9th, 2021 - Aug 5th, 2021 = Falling Wedge - Aug 6th, 2021, DKNG broke out of the falling wedge Analysis - If we overlap ghost bars from Aug 25th, 2020 - Oct 2, 2020...