Many things point to a high if not a top

This is my TNA 30 minute chart.  Looking at it

1. TNA stopped at the mid point of the Up Channel B

2. The inverted H&S from 41.55 to 49.92 = 8.37 should end at 58.29 and yesterday’s high was 57.99.

3. My belief is that the 1st rally 41.55 to 49.92 tells u something and if I assume that to be 50% (confirmed by H&S ) of the total expected move then its fair that the total move should end at 58.29.

4.  We have been up for 3 days and  4 days is in a row is very low odds.

5.  We are done with July 4th probly 2nd most important  date in Gann’s books next only to Thanksgiving on Nov. 24th.   Market will show a change of direction at this point my opinion is it will go down.

6.  I have other time cycles pointing to down.

Here is an XIV chart that also confirms my thinking.

 I have marked a T.that also points to end of a cycle.

I know there is loud noise about a ECB rate cut.  But have you looked at EURO it is not looking good.  It rallied from 1.240 to 1.270. Now it is hovering around 1.254.  If all the problems are fixed and rate cut is in the air should this be at 1.30 and up.  There is some problem here.

Above all we should be getting some very important stats very soon.  My calling this a market high if not a a second wave top  is a bet that the numbers are going be bad.

Anyways you get what I mean.  If the market opens plus I plan to short it.

Thanks for reading my blog please visit our new chat room BLYVe there is a quite number of people  and its interesting.  Thanks again

About Dinosetf

I make a living trading ETFs
This entry was posted in etf and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s