COF to begin pullback around early June

19 mag 2023

1. Credit card defaults are at all-time-highs
   
2. This pump is heading toward over-bought territory
   
3. The trend is downward (below both 50 and 200 MAs on the weekly)
   
4. This is a pretty obvious "head-and-shoulders" formation in the making
   
5. Still have downward pressure possible with MACDs, LuxAlgo, RSI and other indicators
   
6. I anticipate it tops out at around $110 (also coincides with a fractal number and a MA) befor its sharp decent, around late-May/early-June