2007 pattern being repeated right now? Another "Push Away"

By Chris Kimble of Kimble Charting Solutions

CEO of Kimble Charting Solutions • Jun 24, 2016 at 11:51 AM EDT

The NYSE index kissed the underside of dual resistance back in 2008. Once resistance held, a big push away from it took place and sellers stepped forward.

NYSE repeating 2007 pattern potential push away june 24

(Click on image to enlarge)

The NYSE index kissed the underside of dual resistance at (1) back in 2008. Once resistance held, a big push away from it took place and sellers stepped forward.

NYSE creating a similar pattern again at (2)???

This would NOT be a good place for the Risk On trade if the broad market starts “pushing away” from dual resistance at (2).

Disclosure:

Premium Members are double short the Nasdaq 100