Possble triangle formed here. WIll give a target of ~40 if we can break 16 with volume.
Note
breakoutNote
Still no confirmation that we are out of triangle. Any close below 13.5 is dangerous and spells trouble. A close above 16.5 and I think we will continue higher.Note
Expecting the D leg to equal the E leg in time, so we may not have a real breakout until NovemberOrder cancelled
Triangle has been invalidated. There is some other pattern forming that I will avoid guessing at this time. This can still rally. I am waiting for a VIX spike similar to Jan/Feb.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.