Looks like it has completed an ABC correction with a throw over on a 5th wave ending diagonal. If so, could spell bad news for global equities (since they are all in a similar corrective wave right now it seems).
Lots of ending diagonals out there. Check out the German market too:
The UK is putting in a pretty weak effort (not even to 50% retracement yet), so the last wave of the diagonal is not really impressive yet.
Do we start to roll over in the next day or two as these diagonals all end or do they just morph into something else and continue this bull run (trap?)?
What do you think?
Maybe I'm just dreaming all these 5th wave, ending diagonals and the market has me fooled.
Lots of ending diagonals out there. Check out the German market too:
The UK is putting in a pretty weak effort (not even to 50% retracement yet), so the last wave of the diagonal is not really impressive yet.
Do we start to roll over in the next day or two as these diagonals all end or do they just morph into something else and continue this bull run (trap?)?
What do you think?
Maybe I'm just dreaming all these 5th wave, ending diagonals and the market has me fooled.