Dec 7, 2015
I was asked is it possible the market to move lower to 1990 and how it will look like.... I looked closely the charts and there is possible pattern shown on the chart below. It will play out if the big boys want to sell the news FOMC next week. Corrective patterns mutate all the time and there is many combinations at the moment I was talking about a triangle this weekend and below you can see an expanded flat and ending diagonal. I would not focus on a pattern rather on price action before FOMC. If the big boys want to sell they want to sell high and will push the prices higher before 16.12 and the opposite if they want to buy they want to buy cheap and will push the prices lower before the news. Than we will see which pattern is playing out and what to expect after that. This is a speculation how a bearish pattern for the intermediate term could look like.