The end of last month we had a nice run up but halted at the green circle, and headed back down to find support. Is this area going to hold again?
I drew in a W which represents Winner. This second touch of support formed a double bottom or W. I can also show a bearish outlook because she did not retest the recent highs. Who knows.
The overall markets are at a breaking point. The S&P could have formed a Double Top and is slowly making lower lows. Not good. The Russel is showing a Head & Shoulders pattern and we are at the neck line. If we go below the neck, bombs away.
Figured I would add Gold as well. As you can see we are in a downward channel. Until we break the upper trendline, we will continue headed lower.
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