Is the Stock market going to the highs again ?

<div><div>Hi Traders,</div><div>A couple of months ago, I was already sharing my views in seminars that I was expecting the stock market to correct drastically. After a parabolic rise, prices are not sustainable and it will collapsed, and it did at the end of January 2018. <a href="https://www.harmonicforex.com/single-post/2018/02/04/Risk-Off-trades-kick-in-">(Have a look at my old post here)</a></div><div>The fall happened (~10% correction) and found support in the form of a Bullish Shark, The S&amp;P bounced nicely to form a lower highs, now unable to reach the same highs.</div><img src="http://static.wixstatic.com/media/11e264_58a39ca659794660aea003e6e71ea39f~mv2.jpg" /><div>The Bullish Shark pattern being a prelude to a Bearish 5-0 pattern, we should expect some bearishness to both the S&amp;P and Nasdaq. Both eventually completed a bearish 5-0 pattern. See charts below :</div><div><img src="http://static.wixstatic.com/media/11e264_9b3115106dcd4d0891c3cb8c6aa1aa78~mv2.jpg" /><img src="http://static.wixstatic.com/media/11e264_9804ad52d7c9494e9e8ece97a9a05707~mv2.jpg" /></div><div>Hence I am expecting more bearishness to come for Stocks. A good trade will be to go short if Nasdaq &amp; S&amp;P can form some Bearish continuous pattern such as a bear flag or a pennant. </div><div>The Nikkei 225 could be following the bearishness of its US counterpart. Any break below the rising wedge on the H4 would confirm the bearish move.</div><img src="http://static.wixstatic.com/media/11e264_a35df06c1e2b442ea5305a292fd9daf9~mv2.jpg" /><div>Looking at the currency pairs, AUDUSD and EURUSD showed us the risk off (down) situation the last 2 trading days, similar to the fall seen on the stock indices. Potential support at the bullish patterns coming up.</div><div>AUDUSD PRZ at around 0.7612 and EURUSD PRZ at around 1.2215. Hope to see a reaction at these levels to go long.</div><div><img src="http://static.wixstatic.com/media/11e264_610a606fb2d04f2d96a4684d137e5fb7~mv2.jpg" /><img src="http://static.wixstatic.com/media/11e264_95e65aca1a4c48f6a35a5af45ea3e527~mv2.jpg" /></div><div> Trade well everyone. Let's monitor these charts closely next week. Cheers</div></div>