57% of these patterns end the same way
57% of these patterns end the same way. That's not my opinion. That's Tom Bulkowski's research, the most cited body of work on chart patterns in technical analysis. The pattern is called an ascending channel, and SPY is sitting at the level right now where the trade triggers. The market is at all-time highs. SPY is over $737. And I'm getting ready to short next week. I'm not bearish, I don't think the rally is over, and I'm not calling a top. I'm reading a pattern that has a name, has documented historical performance behind it, and is showing up on the SPY chart right now in textbook form. An ascending channel is one of the most basic and most reliable structures in technical analysis. Two parallel upward-sloping trendlines, with price moving in a steady rhythm between them, where the lower line connects higher lows and acts as support while