EEM – now a SELL pattern complete

last post on the EEM was a nice BUY PATTERN: https://bartscharts.com/2019/08/06/eem-big-buy-pattern/ now, we have a larger (purple shaded regions) SELL PATTERN that hit at the beginning of last week. for now, the EEM should stay below the 46.50 area ….

for those interested in PATTERNS I’m using the colors to show how a complete pattern presents itself via connecting the swings. in this case the ‘first’ pattern was a BUY pattern shown by the ‘light blue’ triangles and then the market rallied from that area into the shaded purple sell pattern area …

EEM – big BUY pattern

note, we finished a very nice BUY pattern on the EEM yesterday. it was nice in both PRICE and TIME.

it ‘held’ in/around 38’s but is plowing into a pretty big daily gap. additionally, the THRUST into this level was pretty significant. any further weakness below the 38’s is significant for EEM.

also, note .841 level is based on the equal octave scale of music. 1/.841 = 1.1892 or D#.

watch this one closely …