Bears are back in town - think about exit strategy
Updated
Even the most notorious permabears (all of which missed this bullrun entirely) starting to talk about leveraged longs was your signal to start thinking about exit strategies. Inverted head & shoulder seems invalidated and it looks like we fell for the classic fib 0.236 bulltrap that we get in all crash patterns - also in 2014. If we get rejected by the downtrendline, expect more downside to 7200 and further to continue the pattern and see new lows.
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We're now at a level that the bulls need to hold for a chance to get back to 9k and possible break up from the triangle. If not, this scenario here might continue to play out.
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