Since early June the SPX has been putting in a symmetrical triangle on the daily chart. When a symmetrical triangle occurs

after a meaningful move to the upside it's referred to as a Bull Pennant. The top of the triangle is 7620 and the bottom is 7275.

The breakout to the upside occurred last week at 7500. The theory is that the target price is equal to the distance between the

top and the bottom. In this case 7620-7275 = 343 points. And, the theory is that the price target is the breakout point + the

difference between the top and bottom, 7500+343=7845. Unfortunately, the theory doesn't make reference to any time frame

for the target price to be met. Also, I'm not aware of any data as to how many times a fake breakout has occurred.

The inverse H and S failed on the 4 hr yesterday, I was expecting the right side to print up to NQ 30,500, it never happened, failed and turned down, late day rally was just a retest attempt and likely final out for institutions before the weekly triangle breaks lower, yesterday was a perfect chance to break the triangle higher, it failed, very bearish to me. The same setup was at the BTC top last Oct., the inv. H and S was there, all but the right side, I fully expected the break higher, it failed and then crashed.

and see what thy have on. This morning I saw they had   a guy with one of those fit bit devices that takes your blood pressure and all that. One of my Doctors visits the doc said, "you better look like cutting down on the drinking if you want to remain with us" .  I says to him, I says" let me tell you something Doc, I see a hell of a lot more old drunks out there than I see old Doctors!" He never brought the subject up again.

this one at around $120-$122, just a couple weeks ago. Risin wedge could hit somewhere around $80 if something goes wrong.. I'll try a little, not sure exactly why he would recommend buying now though. I'll just buy a little. its down $20%, from where everybody else bought. (JMHO)

 

https://schrts.co/maPMKYAA

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