The DOW looks to be forming an ABCD break pattern over the past few months but could also be an ABCDE pattern just completed? The strong bounce candle charted last week could see this pattern fall through and we finally test new highs. Tomorrow is definitely gonna be a battle between the bulls and bears.
Very strange how longterm trend lines meet at the point, also notice the longterm trend was just broken through this past week. If a recession happens this is what it could look like, 30% correction needed.
Gonna drop like a rock on monday caused by some world-event over the weekend. Very rarely see such a well planned bull-trap.
Expecting something big over the weekend...
Took a while to trace the correct zoning, but there you have it.
Should be a huge spike in gold up past 1550.
The DOW and other major indices completed a perfect bear-flag pattern on the 15min chart leaving perfect price consolidation today for a major downtick tomorrow back to the lows of mid August. Look for the DOW to either bounce off the 25350 support before heading lower, or to completely break through and who knows where it ends up at close. TVIX may double in...