Harmonics have been playing out well in this triangle structure. Possible new pattern completed today, targets on chart. We had some very nice flags to short in this last leg also... Beware for breakout to lowerside though, if it breaks out of the structure and takes out the low we could get a very strong impulse to the downside. I'm staying out of longs because of this but for anyone who has a different view or trading style this might be a good short-term long opportunity.
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Looks like this is going further down, this could turn into a very large move lower:
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Adjusted the trendline to exactly the last low after the top:
Hi KVE, this chart was amazingly correct on marking the medium term top at around 24850 in mid-April. Could you please update the trendlines and this idea when you get the chance? Thanks!