Don’t get me wrong, I want the market to fail; it’s expensive and the bull market has gone on for too long.
But I’m not seeing enough of what I’d like to see here. If we’re crashing, we need to see more liquidity problems, not high yield debt holding up and Bitcoin hanging out consolidating.
Now, on the Russell, things were good for a bit: she gave us a couple of nice bear flags (here was one). But now those structures are done.
There’s no discernible flag here on $RTY. Instead I think we may be forming an inverse. Look for a right shoulder, watch the neckline. The measured move is quite high and I’ve noted it.
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