Restaurant and Bar Index on a monthly timeframe
+318%. The industry has been relatively stagnant since 6-01-2016 forming a bracketing structure. On 10-03-2016, a clean break outside print occurred on the monthly timeframe
< 1×2 GANN
. In recent months a failed spring up in December 2016 occurred with the print of a shooting star
rejecting the 1×2. Rule of angles suggests the trend is weakening and downside migration to the 1/1 could be the future pathway. Perhaps, the rule of angles is suggesting a top signal in the industry. On a Fib-basis, if exhaustion continues, there is possibility .236-Fib migration or roughly -1500bps. Those are my two cents.