At the backlink I gave the model below.
Below left is actual, right is the model. So it morphed into a rising wedge. Surprisingly, it found resistance at the lower green horizontal which is the start of a gap. It would not surprise me to see that gap filled before the actual peak is in per the red model left but it could also put in a significant show of weakness by purposely failing to do so. This rapid spike, if it is retraced downward quickly and then you zoom out, will appear as a unicorn horn in the chart which is generally a sign of a peak of some kind. You can buy puts on BKX but the spreads are jokishly large . Consider playing this short using FAZ or FINZ.
Thursday, October 29, 2015
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