I see your triangle. May be done, or very nearly so.
But, in any case, if it falls under 1263, that would be, imo, an event with likely imminent bearish implications.
I don't disagree, but the alternate read is that it is in a sharp '2', which is where I think the NDX is, at least. Short term, it doesn't matter really. Either way, there should be at least a little more up coming shortly.
But I have to admit that $CPC chart is scary. Lowest reading in 4+ years, which is as far back as I can get on Stockcharts. I'm also getting short-term sell signals on $VIX yesterday and today. Not yet confirmed on "Vix Classic" ($VXO). |
