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The patterns DON’T reflect that the world is going to end!
If this pattern read is correct, the Vanguard World Index ETF (VEU) could end up much lower in price though! The neckline needs to hold right now!
A break of the neckline could see sellers step in and the VEU could end up back at its 2009 lows!
Hii, Chris: looks like another great “power of the pattern” find!
This looks like a classic situation where agressive investors might consider a short ETF (say, EWZ) with s stop at the equivalent of just above the VEU neckline ( 38-39).
Do you think that is justified? Or are there reasons to be cautious – for example, the US dollar looking to be up against resistance and failing to break through?
– Mark S.