The Dow has entered a very bearish FAN Formation on 8/17/18
where prices are reaching higher highs in the pattern and also hitting lower lows.
The implication, and conclusions of this pattern are CLEAR.
It is one of an exhaustion move in price to the Upside, at some future date,
followed by a SHARP ROLLOVER BREAK IN PRICE to the DOWNSIDE.
The most bearish thing about this pattern
is that the ultimate break to the downside,...comes with NO WARNING !
THE_UNWIND
where prices are reaching higher highs in the pattern and also hitting lower lows.
The implication, and conclusions of this pattern are CLEAR.
It is one of an exhaustion move in price to the Upside, at some future date,
followed by a SHARP ROLLOVER BREAK IN PRICE to the DOWNSIDE.
The most bearish thing about this pattern
is that the ultimate break to the downside,...comes with NO WARNING !
THE_UNWIND
The Fan Formation Pattern comes at the very end of a move.
Much thanks to Jay 6336, for reminding me of that.
And finally, the FAN Formation Pattern is TERMINAL !
THE_UNWIND