It’s just a PATTERN and nothing else but it’s something to pay attention to
08/27/2016 – looks like we are still “squaring out” the date of the inception of the S&P500 w/ this past weeks weekly close.
again, this is not “bearish” or “bullish” but a heads up that at “square outs” stuff happens … go w/ the flow.
rock on, ok?
PATTERNS … work and they fail.
PATTERNS tell us of possible inflection points.
PATTERNS also tell us very important areas of interest to trade around ..
What if .. what if the PATTERN on the cash S&P has finished or is very close to finishing a sell signal?
That would mean we are at major resistance and the market “should” respect a PATTERN that has its genesis from it’s all time low 50 years ago….
IF the market DOES NOT respect this area and goes higher then we are really really really strong and I wold look to go LONG after a monthly or weekly close above these levels.
so, don’t shoot me- I got tons of crap this weekend for posting about the Utilities Pattern hitting (seems to be working so far) and I’m just mentioning that a “classic” AB=CD PATTERN is pretty much done on the S&P.
Pay Attention ….
PS – tons of cycles are hitting this week so just go w/ the flow and catch the wave that should begin soon. No idea which way it goes, it’s just a pattern. TRADE IT or NOT.
PS — also, the you’ll note the SK&P was BORN on March 4, 1957 or 21708 days ago. 21708/10 = 2170.8. Were only 10 points away from that price … if we close below 2171,2172,2173 etc. in the coming days the market has SQUARED OUT PRICE and TIME. “Stuff” usually happens around those occurrences. An FYI …