coming into tomorrow we are pretty much there….2/12/2016

note the $NYA chart below ….

  • blue arrows represent the largest corrective move since 2009
  • in the 2007-2008 financial panic this measured move held the market at bay for almost two months
    • can you imagine the talking head pundits on CNBC BS’ing about that for two months … blah blah blah.
  • we also see the dashed black arrows projection to the exact level as the measured move
  • we have weekly bullish divergence present on the RSI
  • plus, we are a couple ticks shy of the XLP / NYA ratio in an arena of overbought more than 2009.

so, if were going up … sure looks like it’s about time for that to  happen.

here we go …

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2 Comments on “coming into tomorrow we are pretty much there….2/12/2016

  1. Hi Bart,
    Love the analysis on the XLP. I was going to ask you if some of the theory for your analysis AB=CD pattern is from Larry’s book “Trade what you”. From your last post I can see Larry is a friend;-) If you can recommend any other books on technical analysis it would be much appreciated.
    Cheers

    • Anthony, thanks for visiting the site. Yes, that is from Larry’s books. He is a dear friend and a mentor of mine for years. We ‘skype’ almost every day. If you can understand those patterns – you don’t need much else to be honest. If your looking at digging deeper into pattern recognition go visit this site http://www.constructingtheuniverse.com/ and if you LIKE the content and it RESONATES w/ you then hit me back …OK? E N J O Y and thanks again for visiting the site. BART

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