Time, Price & Patterns
Updated
The SPX is coming into an area of time where price has been weak and the bears control price. Do not know if this setup will happen again. Just recognize there is a good RR probability for a short trade to the HWB at 1960 if price and time still has memory. Looking left starting with the May ATH. Price made a triple top in May, June, July where once price crossed the 0.618 in time we witnessed the August flash crash. Next was the November, December, January three falling peaks that also corresponded with 1.618 in time and witnessed the January sell off. Entering March, April, May there is a possible head and shoulders setting up where the 2.618 in time is corresponding with a possible right shoulder. The measued move of this pattern targets the 50% fib at 1960. I do not know if this will trade. This could all be a huge load of bs. Just see the probability of this setup happening.
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The august and january corrections are now at 100% in time with current price. Not implying this is a guaranteed setup since the future is unknown. What I do know is the cash open for year 2016 @ 2038.20 was a level looking left when price closed for the day below it price experienced a rather quick sell off. Looking at the ES june contract it made a triple top where it is flirting with its opening range too @ 2032.50 Breaking it would open the door for a deeper correction.
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Looking at the DOW, the 1929 high to the 1973 high is an qeual distance from the 1073 high to the current month of May 2016 I do not know if this means anything. Only time will tell. However price and time can make moves together. Note
Looking at the Wilshire5000 Total Market Index it has been making lower lows and lower highs. Each peak should have similarity. With the peaks being complex, last years top testing highs 4 times, nov-dec 2015 top being a three falling peaks pattern, with what looks like a head and shoulders pattern now, this could set up a deeper correction. I do not know. Just looking at this chart it looks like it has the potential to go lower. The ES, NQ & YM would follow imho. The may 2015 top, nov 2015 top and the current april 2016 top all have a similar time relationship. I believe if the tops had a time relationship, its possible a mid june low could trade where the three lows aug, feb and possibly june could have a time relationship? . All bs as usual. Note
Close chart Wilshire Note
New ideas with charts posed in comments. Could see a bearish shark in play. I do not know.Note
Two new ideas and charts posted in the comments. (bull & bear)Note
Anyone going balls deep long entering brexit needs to get their head examined. notes on chart Note
Is there a UK news algo trading a return to zero pattern? I am 100% nuts for thinking this but it seems like the algos make certain programmed patterns. Note
DO NOT MESS WITH THE 88.6 fib - AKA BEAR BBQ - Here we are back up at highs after an impressive rally where after a huge up week "the bull is back!" or is it? Since the May 2015 all time high every rally has been stopped by the 88.6 fib where the current rally stopped at yesterday. One day this will stop, but until that day happens shorts have paid better at current levels than longs. Notes on charts These posts are more for my future review and not trading advice.
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