Daily Candlestick Chart of the S+P
shows a RED BAR Continuation Daily Decline entering into the prior wedge triangle pattern,
thus confirming a false upside breakout above 3000 to an historic all time high.
Think about that thought for a moment.
The all time high in the S+P 500 at 3027.88 has been technically invalidated,
with this weeks sharp price breakdown
and the only thing to save it would be a new all time high, above the prior high.
The consequences of such a rollover become more significant
if you wish to ponder the downside potential risk it now raises in the market.
Put pure and simple, a trap has been sprung on unwitting bulls
whose only sin it appears was to walk right into it, ..
....without a care in the world.
THE_UNWIND
8/3/19
NEW YORK
shows a RED BAR Continuation Daily Decline entering into the prior wedge triangle pattern,
thus confirming a false upside breakout above 3000 to an historic all time high.
Think about that thought for a moment.
The all time high in the S+P 500 at 3027.88 has been technically invalidated,
with this weeks sharp price breakdown
and the only thing to save it would be a new all time high, above the prior high.
The consequences of such a rollover become more significant
if you wish to ponder the downside potential risk it now raises in the market.
Put pure and simple, a trap has been sprung on unwitting bulls
whose only sin it appears was to walk right into it, ..
....without a care in the world.
THE_UNWIND
8/3/19
NEW YORK