Best thread on HC by a mile , guys, keep up the great analysis.
Following on from today's XAO flag formation, i've been studying the 1-2 day flags on the Dow/SP500/FTSE/Dax/ Nikkei etc etc.
Certainly suggests a massive breakout either to the upside or even larger to the downside.
With the JPY/USD coming off quite fast at the moment and the FTSE, DAX and US Futures at the moment weakening its looking to me quite possible tonight could be a major breakout to the downside.
A big crash tonight would also fit in well with Shanghai almost touching 5000 today and the Asian indices today all suggesting possible reversals.
Just not sure whether Capital One is enough bad news to be the catalyst. I suppose if USD/JPY touches 112 again might help it. From a technical point of view though you'd expect decent breakdowns from the flags would be hard to stop in this environment.
Would appreciate anyone's thoughts.
tidy tuesday, page-135
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