Suicide By Consolidation

Market has done little more than consolidate for ever now. And, though I do still expect lower prices, the overnight price action looks, sigh, like another triangle may be forming (green arrow). If it is, we may move up again in the short term, perhaps like this:

ES

And, of course, it goes without saying that just because it looks like a triangle does not mean it’s going to act like one. It’s consolidation (within consolidation, within consolidation) and it’s hard to know which way it will break.


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