The got rejected by the upper diagonal and is not on its way down to retest one of the horizontals.
Something along the path that I drew is what I am expecting.
This would line up with a short term bullish outlook on the market, for example:
This would play right along our previous idea, where the dxy would break out, marking the top and the retest would lead to a dead cat bounce for the market.
This would also still line up with our previous idea, where the VIX would have a huge spike in the weeks leading up to the elections.
Something along the path that I drew is what I am expecting.
This would line up with a short term bullish outlook on the market, for example:
This would play right along our previous idea, where the dxy would break out, marking the top and the retest would lead to a dead cat bounce for the market.
This would also still line up with our previous idea, where the VIX would have a huge spike in the weeks leading up to the elections.
