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Just a random thought....If the three peaks and domed thing works out this is the starting point where the bulls who have basically gotten a free ride end up getting whacked.
Think back when the Euro took that ride up to 1.6 and everyone and thier brother just bought every dip and couldn't go wriong and made tons of cash....and then at 1.6 the party was over and how many lost thier ass trying to buy the dips on the way down. They got steamrolled...I knew some.
I guess it's like the Nasdaq thing and what will likely happen with Apple......same old thing.
Anyway, we are aware of this possiblity and will be prepared and will look to crush the bulls (not you of course @Silvester17).
I just wanted to say this as a reminder that it can't go up forever(I think)....it may not be done yet but we must recognize when it is as @HighRise1202 ( what is that...your apartment number ) may have.
The unknown thing is that the Fed might print it's ass off trying to save everything (as has been said numerous times) and that would change how things play out so.....
Assuming Kbit is right, and it makes sense, on a bigger picture we could be in a 3 hills and a mountain pattern (Suri Duddella). If the H&S will be correct its base would be below the 200 EMA and would lead ES to retrace on 61.8% Fib level from it's …
I guess I can tell you about that pin now(blue arrow) and maybe some of you figured out already....the top of the pin was 794.9
The important part is that it was a footprint as I call it and would get revisited as it just did today....the part I wasn't sure about on this one( and why I didn't say anything) was that I couldn't be sure where it would turn around with all the overwhelming negativity on Friday.
Edit: actually there is more to this story but I'll let you guys figure it out.....I will post something later on this