That was a great idea. Now is in a bear trend though
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Arguably legendary...rocketship
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Diagonals are reversed to the start of the pattern within a shorter period than it took to form them
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Apparently, a lot of people in the banking sector were surprised by the steady rise in interest rates as evidenced by the incompetents at SV Bank. Wasn't that very high probability base case scenario already in 2020?
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This most likely consolidates/declines into July 2024 when the next 4 yr cycle low is
It was the base case for many. Unfortunately the executives that run these failed banks also happen to be board members of Fed reserve banks. Look at SVB ceo also a board of directors at Fed reserve bank of San Francisco.. it was obviously his base case, being that he cashed out before poo hit the fan