• 484 days Will The ECB Continue To Hike Rates?
  • 485 days Forbes: Aramco Remains Largest Company In The Middle East
  • 486 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 886 days Could Crypto Overtake Traditional Investment?
  • 891 days Americans Still Quitting Jobs At Record Pace
  • 893 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 896 days Is The Dollar Too Strong?
  • 896 days Big Tech Disappoints Investors on Earnings Calls
  • 897 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 899 days China Is Quietly Trying To Distance Itself From Russia
  • 899 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 903 days Crypto Investors Won Big In 2021
  • 903 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 904 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 906 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 907 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 910 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 911 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 911 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 913 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Three Peaks and a Domed House Revisited

Taking a fresh look at the Three Peaks/Domed House chart recently I had a "funny" thought. In the current pattern, the May 19 high reached 127.2% of the Jan decline (the final high of this pattern has always been a Fibonacci relationship to the extent of the decline during the First Floor Roof). There's no reason the Dow can't rally to a higher Fib ratio but the May high is an almost perfect 107 day interval from the Feb low. What if the top of the bull market is already behind us?!!! Lindsay's template calls for a final head-and-shoulders topping pattern and a potential pattern can be seen on the daily chart below.

The neckline of the Head-and-Shoulders pattern was broken on Thursday but we can't forget that the high may come more in tune with the cycles in the Dollar and commodities later this month. A 107-day interval from 2/20/15 will expire on June 12 but a break of the 150-dma (Friday's close) will make any higher high unlikely.


Larger Image


Try a sneak-peek at Seattle Technical Advisors

 

Back to homepage

Leave a comment

Leave a comment