"H&S" instead of a plane formationAs long as the top @25300 stands firmly the latest price move needs determining as the «right shoulder».
Aren't we in the 3rd Elliott wave? The triangle does not give any promises. On one hand, "all is rosy in the garden": an aggressive bullish high above the previous 24300, well above the correction channel.
Fingers crossed - cautiously adding size to our positionsWhat a market effort to get out of consolidation! Let's put a credit to the Fed's decision which made a core bull trap last Wednesday.
6 figures are behind, is there any in store of us?Three impressive overnight breaks have pushed the price up to the level of 23900, exactly the one the price reached upon the breakdown of an ascending tendency at the beginning of May last year.
The market reality has shattered good hopesWhat we can only safely say now is that the 2nd impetus has not proved to be actually the 2nd one, the strongest in the model "impetus-retracement-impetus".
Only one day might be sometimes the border between the cycles!What a DAY was yesterday! The absolutely critical edge of decision taking by the market happened @15820.
The signs of another price topThe triangle that we all can see as of the end of the US elections seems massive and strong enough for a good price move.
The mid of August picture is likely to take place againAgain very complexed and extremely stuffed with tiny price moves market we are in at the moment.
An exciting thought for the already yawning investorsThe bullish impetus from the counter trend at the end of last week might have caused the moods hesitation.