Tick16 setup screaming for another top in the making, yet the news shock last week defended the 1st strong swing low on daily from being challenged. Thus price pattern points to higher prices and market breadth says a short term top is already in place.
Usually, that will result in test of previous swing high failure (i.e. fail to take out that top). We will be able to find out this week.
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Market Breadth Readings
Tick16 setup screaming for another top in the making, yet the news shock last week defended the 1st strong swing low on daily from being challenged. Thus price pattern points to higher prices and market breadth says a short term top is already in place.
Usually, that will result in test of previous swing high failure (i.e. fail to take out that top). We will be able to find out this week.
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