since we`ve created the Diamond-Pattern after the high in Mai @ 13.206, we`ve seen a huge Sell-Off down to 11.040,5 this october!
It was as crazy and volatile as expected! But what now?
There were many different fundamental aspects causing this nervous market.
- Italy`s budget and it`s bond yields
Weak wallstreet which is concerned about the tradewar
Supply-deficits in the tech-sector ( apple ) which totally destroyed the Dow&Jones and SPX500 ,
Saudi-Arabia and so on.
However, we know the market is irrational and won`t give up that quick. The scent of profit is too strong and the market might see good chances to buy during the Years-End causing a rally.
Will we retest 12.000?
The Chart is currently still . But break through the imortant 12.000 could be like a heart-warming hot chocolate during cold winter days giving the market hope to see a rally up to a new ATH .
I expect at least a retest of it. :-)
Peace and good trades