UTX - Feb. 2020 Entry - Another Pattern Failure May 2020
THIS IDEA IS NOT READY YET IMO.
Looking for ideas I came across UTX. I was hoping to play the UTX merger in a bullish way, but the chart pattern is bearish.
We have an ascending wedge looking to end around May 2020 - Same as SMH, AAPL, SPY, and others.
I think we can catch a small rebound inside the white triangle.
My entries are either breakdown of the white ascending triangle, or preferably the rebound at top around Feb. 2020.
I think the Feb. 2020 entry would be the best price position in the pattern for failure.
We should stop at Strong Support. This has held since 1973 which I consider strong.
I will update as this idea develops.
Just throwing it out there since I am seeing an overall pattern develop across multiple sectors.
2yr/10yr inversion was in March 2019. cnbc.com/2019/03/25/the-us-bond-yield-curve-has-inverted-heres-what-it-means.html
We are approaching the 12 month period, where this has predicted a recession with 100% ACCURACY FOR LAST 7 RECESSIONS
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, ROKU and AAPL. May close ROKU today.
Looking for ideas I came across UTX. I was hoping to play the UTX merger in a bullish way, but the chart pattern is bearish.
We have an ascending wedge looking to end around May 2020 - Same as SMH, AAPL, SPY, and others.
I think we can catch a small rebound inside the white triangle.
My entries are either breakdown of the white ascending triangle, or preferably the rebound at top around Feb. 2020.
I think the Feb. 2020 entry would be the best price position in the pattern for failure.
We should stop at Strong Support. This has held since 1973 which I consider strong.
I will update as this idea develops.
Just throwing it out there since I am seeing an overall pattern develop across multiple sectors.
2yr/10yr inversion was in March 2019. cnbc.com/2019/03/25/the-us-bond-yield-curve-has-inverted-heres-what-it-means.html
We are approaching the 12 month period, where this has predicted a recession with 100% ACCURACY FOR LAST 7 RECESSIONS
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, ROKU and AAPL. May close ROKU today.
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