did a little bit of work on the NYSE for my friend Larry P and found some pretty interesting “form and proportion” w/ regards to the $NYSE.
folks, it’s almost ALL the SAME.
Here’s what I see on this chart:
- note the blue triangles
- the vertical represents PRICE and the horizontal represents TIME
- from 2007 high we went down into the area shown “started down” and consolidated for, roughly, 6 weeks and then it broke.
- in Nov 2008 we found a low and rallied the EXACT same as the rally after the first break (the dashed black line)
- form the 2009 lows we move up into May 2011 and then corrected – the EXACT same price. Note, the time was “off” but when it did hit the same TIME the market fell, found support and rallied up into the May 2015 highs.
- we’ve corrected DOWN the same amount and rallied UP the same amount (black arrow) and we are at the “time” for it to start down again.
- the vertical represents PRICE and the horizontal represents TIME
guess the big question is will it start DOWN DOWN or will it find support.
I do not know ….but what I do know is it appears ready to start a leg down. If your a bull then WAIT for the first BULL PATTERN to appear. If your a bear, get short in/around here and stop out above the black arrow. Hope this helps.
