imminent Head & Shoulders could be made from the new bounce created in today's ticker movement.
As a contingency, I allow for also a decline somewhere around Thursday with a nice bounce to end off the week on Friday, as that has a tendency to be positive-vibe day for the market.
However, if there's bad news to end the week, the next week outlook starts on a bad foot.
Overall downtrend, in my view, has begun on its journey from The Jan-Feb spurious recovery.
I believe the white trend-lines give us a viable wedge that the market will have to negotiate with, as it moves up into the corner. I believe the wedge is valid given it's intake of the relative sizes of the trends it's drawn from.
Looking at the Angular fibs, we may also suspect the edge of the white space to give us strong resistance against its current, micro trend.
Should the market peak on through the edge of the 100% area, I'd suggest enough volume is behind that to hold us on new ground put us in an area of good breathing room for the supports to be redrawn higher and the expectations of the overall index higher.
As you know, I'm not an optimist. I'm a fundamentalist.
As a contingency, I allow for also a decline somewhere around Thursday with a nice bounce to end off the week on Friday, as that has a tendency to be positive-vibe day for the market.
However, if there's bad news to end the week, the next week outlook starts on a bad foot.
Overall downtrend, in my view, has begun on its journey from The Jan-Feb spurious recovery.
I believe the white trend-lines give us a viable wedge that the market will have to negotiate with, as it moves up into the corner. I believe the wedge is valid given it's intake of the relative sizes of the trends it's drawn from.
Looking at the Angular fibs, we may also suspect the edge of the white space to give us strong resistance against its current, micro trend.
Should the market peak on through the edge of the 100% area, I'd suggest enough volume is behind that to hold us on new ground put us in an area of good breathing room for the supports to be redrawn higher and the expectations of the overall index higher.
As you know, I'm not an optimist. I'm a fundamentalist.