FMG Technical Analysis, page-8478

Nice @frogbat
got the daily highs

today a green candle with 20c body 4c neck 7c tail
meaning its positive
but look at that flatline since 8 August - 19.00-19.60, in low ranges of 30c, barely moving with volatility low, its either a ramp higher or an escape offload ledge for all the INSTOs (the latter imho)
Also look at that lower high, now 4 in a row since 7 Feb witht his one unable to break 20.00 even, way lower than 22 or even 26 high last year.
Bearish chart look sorry, looks a topping out pattern.

Then theres the macro US equity crash coming Aug - 31 Oct imho
With hyper inflation globally and recession inevitable & rocketing interest rates killing profits and margins while wars boom globally everywhere, which will cause this crash.
bear season last few years for FMG SP was Aug - 31 Oct

World looks forward to the November sweepout of the US democrats in US congress leaving biden an old lame duck for 2 years so the equity crash will be before that imho.

Last year the crash was 1 Sept to 4 Oct then stayed down at 4 Oct & 1 Nov lows
Last year I called early Nov the bottom was in & a bullish, it then ran from 14 to 22 during bull season (Nov - Feb) as usual, I was SPOT ON!

This year the annual highs didnt happen in July instead a triple top at 22 in Feb April June-with lower highs and lower lows, a risky bearish chart pattern.
Once the US crash hits soon, we should see a bottom flooring pattern again.

Whats worrying here is that the highs were not that high this year (22 not 26) and SHORTS have been poppy cutting early and harder.

Beware the bull trap. Shorts are in charge.