Brace for impact - of trendline
Convergence of trendlines - short-term down, long-term up and near-term inverted triangle formation, with former support at 24,640 becoming resistance, combined with low upside volumes, high downside volumes, weak RSI and what appears to be a tech bubble forming are all ominous for sharp retracement to trendline. Expect fibo .68 retrace to near Dow 23,800 before the next leg up. Hope I'm wrong and the upside comes sooner, but it's murky out there now and Donald's making it harder. Fed hike soon!
