Thread by @PuffDragon11

1/ Chart study from Dragon's Den. Chart posted below on May 28 with current inset on top. So far so good. Another major time zone 6-7 to 6-9/11. Goods odds of drop to black channel ~4140 starting Monday.

2/ Lower black channel is super important so watch carefully. Break that and a slight alternate to above says we're done just in case.

3/ For now, let's assume black channel holds. The fractal pattern posted last week is also holding and that means time for another one of those green zigzags down.

4/ Either way, we are at or close to a major high. May 10th was extremely significant and though it has been nearly a month since, and there has been no significant decline *yet*, we have also yet to make a new closing high since then. Is June 7 secondary top?

5/ Tech has already broken and signs for another reversal lower abound. $ARKK for one has a perfect back test of triangle which happens to be at price where 50 and 200 MA converges and all on falling volume. 80's at a min coming up next

6/ Some like $GOOG haven't broken yet, but clearly in terminating wedge with little room left AND all on falling volume here too. Once lower blue line breaks, 2000 and maybe 1800 will come fast

7/ Let's talk $NVDA. I find symmetrical patterns like this amazing. 650 next.

8/ Commodities have been on an inflationary tear, but if oil has anything to say, it may be sending a clue that deflation is around the corner. 5 wave wedge, falling volume and clearly the last leg momentum is dying. Major trend line tag coming too.

9/ $VIX. Chart says it all. MAJOR.

10/ Weekly S&P. While not for timing, tons of clues we are nearing major peak on the run since 2009.

11/ Given all the clues, we are still in wedge since Nov 2020 but range is narrowing and weakness building. 4400 is top wedge max but we likely fall well short of that and time is running out. Break 4140 - stick a fork in this pig of a market and the great unraveling begins. End