Another Expanding Pattern, this one steep
Expanding or broadening patterns show up during volatile market conditions. Since the March lows I've had more success day trading these than the more traditional patterns.
The current one that began this past Thursday is even steeper than the big baddie that began around February 21st and bottomed out around March 20th.
How to read into that near term? I'm binary on it. It either marks the beginning of another measured leg down in a deeper pullback to the 2800''s or...it'll squeeze right back up to retest the 3200's because did you really think you were gonna short into FED's face and get away with it?
The current one that began this past Thursday is even steeper than the big baddie that began around February 21st and bottomed out around March 20th.
How to read into that near term? I'm binary on it. It either marks the beginning of another measured leg down in a deeper pullback to the 2800''s or...it'll squeeze right back up to retest the 3200's because did you really think you were gonna short into FED's face and get away with it?
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