QQQ reversal for short term bounce.
Downward channel breakout into close on QQQ (orange channel).
Short term double bottom looking for confirmation tomorrow.
Potential H&S pattern formation on VIX (indicating the anticipated bullish counter trend).
I see a high probability for an ABC type lightning bolt move to the upside ($335 level) before a bearish trend reversal.
The next bearish reversal and leg down should let us to set in a true bottom (3,950ish level on S&P) before the next bull rally.
I believe we are simply in a sequence within the topping process. Post bull rally at the end of 2022 / Q1 2023 (my assumption), the bull rally will end and we will get the "real crash."
Short term double bottom looking for confirmation tomorrow.
Potential H&S pattern formation on VIX (indicating the anticipated bullish counter trend).
I see a high probability for an ABC type lightning bolt move to the upside ($335 level) before a bearish trend reversal.
The next bearish reversal and leg down should let us to set in a true bottom (3,950ish level on S&P) before the next bull rally.
I believe we are simply in a sequence within the topping process. Post bull rally at the end of 2022 / Q1 2023 (my assumption), the bull rally will end and we will get the "real crash."
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