SPY/QQQ Plan Your Trade For Sept 10 : Consolidation Carryover

10 ก.ย.

Today will likely be similar to yesterday - but slightly more consolidated overall.

I belive the markets are struggling into a dual Excess Phase Peak Flag (Step #2) and the SPY/QQQ show this very clearly.

This dual Excess Phase Peak pattern will result in either a breakdown in price (starting after Sept 20th or so) or a continued rally phase breaching the Unique & Ultimate Fibonacci High price levels.

Ultimately, I believe the breakdown potential is higher at this point than the continued rally phase. That is why I'm asking traders to prepare for a top near Sept 20-25 and to move assets into CASH as we melt upward over the next 5+ days.

If my research is correct, the second Excess Phase Peak pattern will prompt a breakdown in price - resulting in an attempt to find support above recent (60-90 day) lows. And that will reflect a -9-14% drawdown in price.

If I'm wrong and we don't see this breakdown in price, then we'll see price struggle to move higher and eventually break the recent ATH levels.

Watch this video to learn how the Excess Phase Peak patterns setup.

Get some.

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