The infamous inverted h and s will be won or lost late this week or early next...
30 min chart showing patterns and support levels and what i believe will be an overall fake out for the bears once more...
This is a carefully crafted study! I have demonstrated the angles that we will likely see in the future based on what we have seen in the past. Details in the chart... Hope to get 1K views on this
lets see this run its tail off
This Chart compares patterns and bull flags (2012 and 2018). They look very similar! Cheers!
The small caps have been killed but I think we may be in for a nice bounce targeting the 1590 area for 30 point upside. Directional Bias: Long Price Target: 1590 on RTY Futures Good Entry: 1548-1555 Risk/Reward: Max risk of 10 points/30 point reward.
On a micro level Russell needs five waves down off the top made at 3 PM last Friday. So far it reached the bottoming area for the micro wave ( iii ) down. That means that after corrective a-b-c shaped move up it will continue moving down in direction of the green target box
The decline off the January 2018 low is shaped as ABC. We are in the final leg C down. The drop to 1,470 area may complete all of the Wave C down and consequently the whole correction off the top in January 2018. Or it could be just the wave ( iii ) of that wave C. That scenario would imply a corrective pullback up in the wave ( iv ) up and then another drop to...
Intermediate up trend broken broken on the dialy log chart. Have a gap to close above. Of course not sure how high it will go before the next fall.
The triangle consolidation idea seems to be working out. See link below for longer term charts.
If it can break above 43 we might get a run up to 52 or so.
The Sentiment on 12/2 was 93% Bullish. As I noted: “In general it is never a good idea to Buy on High Sentiment.” We have seen that every extreme cluster of Low Dorsey Sentiment have been ideal time to Buy zones. However, it is little recognized that “High Sentiment and Low sentiment are materially different in that they represent different aspects of the...
From the past two appreciable declines in 2001 and 2008, there appear to be some trend lines worth watch, in case current price action follows similar patterns.