1/ Chart study from the Dragon's Den. If you have followed me for a while, you know I study chart patterns. Charts = price patterns = human reactions to events. I tie this to indicators and data to validate but do not show all data. My version of EW is also unique
2/ I find it interesting that 3X ETFs which amplify emotion, are showing what appear to be 5 wave patterns with 5th waves developing. A few examples...Housing
3/ Biotech
4/ FANG stocks
5/ VIX is measure of volatility, aka, emotional fear in markets and direct measure of it. TVIX is branch of this. Note that TVIX experienced >50% pullback from high. This is a sign of termination. Not likely we see a strong move on the next run and could even see a lower high
6/ Stock above 50 day MA. At extreme levels. While we should not compare direct to 2018 levels, we have certainly exceeded. In addition, possible 5 wave channeled formation. Correlates to a low forming soon.
7/ Big picture. Not bullish by any means but we have to be aware of the domed house pattern.
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