In 2013-2014 market touched rising support 3 times and rising resistance 2 times before 6 month down move. In 2016-2017 market touched rising support 3 times and rising resistance 2 times. If it is going to repeat the 6 month down move it is going to do so now.
False Breakout To Get The Last Longs On Board.
We broke out of the channel of the bull flag after the election and have recently back tested to the flag where we found support. We had outside reversal today and now off to the races to $120.
We are either in the midst of an ascending triangle or a rising wedge . A break above 54.50 means we have been in an ascending triangle and we are going much higher. A break below $52.50 and then $48 means we were in an ascending triangle and we are going much lower. Either way we are at a breaking point and should have an idea in the next 2 weeks where we are...