STI has been holding well for the past few days. Is STI consolidating for the next bull run or quiet before the next big storm? Let’s look at the three key indices…
Dow Jones Industrial
S&P500 ETF (SPY)
What commonality do we see?
- Head and Shoulders Pattern
- Once the neckline is broken, sharp correction happens within one to two months.
- All 3 key indices chart pattern are similar.
- The LATEST Head and Shoulders has been formed and the neckline has been broken. Can you see what is coming?
Let’s look at STI. Is the chart look familiar?
Someone will tell me “Hey! The Head and Shoulders has not been formed on STI yet!”
True! But my reply is “Do you think STI can escape from this storm and go on the bull run?”
STI: FASTEN YOUR SEAT BELT! STORM IS COMING!
Bull or Bear supporters, feel free to comment!