The Large Structure I Am Inclined to Believe Is Forming

I could be wrong, and it is possible that we crash. But, you guys already know many of the reasons why I am very reluctant to believe that.

So, assuming we don’t actually crash, here is what I expect. It’s a very, very big structure (if I am right) and big structures take a lot of time to develop.

Markets can produce either nice, fast “V-Bottoms,” or big “bowls” like this. Hard to know beforehand which will develop, but better to try to anticipate it halfway through rather than entirely in the rearview mirror.

So, this is a speculative inverse head and shoulders pattern. They can often produce a surprising amount of symmetry, and so I have speculated it to have such symmetry, with similar shoulders and triangles on both flanks.

SPY

Obviously, if we just keep dropping, pitch this thought from your mind, but if we get a rally that gets us back to that neckline, keep it in mind as a possibility.


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.


Leave a Reply

Your email address will not be published. Required fields are marked *