The late-2015 breakout from the preceding bear market saw a quick parabolic rise followed by a correction, then reaccumulation and consolidation
2019 has seen a similar parabolic breakout, but with greater magnitude and duration. IF we are to follow the post breakout correction/consolidation pattern of the previous cycle, one should be mentally prepared for the possibility of a similar sideways period before exceeding the top of the breakout rally (13.8K)
As of today we are only in the 7th week since the local high of the parabolic breakout...sideways chop could go on till year end as the last cycle saw a consolidation period of 29 weeks
Keep calm and accumulate before the next big bull run
2019 has seen a similar parabolic breakout, but with greater magnitude and duration. IF we are to follow the post breakout correction/consolidation pattern of the previous cycle, one should be mentally prepared for the possibility of a similar sideways period before exceeding the top of the breakout rally (13.8K)
As of today we are only in the 7th week since the local high of the parabolic breakout...sideways chop could go on till year end as the last cycle saw a consolidation period of 29 weeks
Keep calm and accumulate before the next big bull run