They aren’t making this easy for us, are they? Looking at the past few trading days, we’ve got a triple-black diamond level of challenges in this chart, because in just a matter of days we had:
- a terrifying inverted H&S pattern which suggested a huge rally ahead;
- a breakout (blue) that signaled the rally had started, only to fail almost instantly;
- another bigger breakout (red) suggesting that, nope, this time is was for real;
- only to be followed by an outright collapse to last week’s lows
YIKES!
Although, at the end of the day, I was pretty happy with my Whitman’s Sampler of short positions.
The cold fact of the matter is that we are at the cusp of a very meaningful drop, if only we could break the final level of support which is at……..(drum roll please)…………
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