One of the favorite formations of technical analysts is the Head and Shoulders Top. A Head and Shoulders Top usually signals a major decline is imminent. The market will fall back to the level where the left shoulder started to form.
Technical chart analysis is not a great tool in and of itself. However, when it aligns with the underlying economic picture, it is just a confirmation of future direction.
Hate to burst your bubble, but preparation beats denial every time.
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