love that saying from the Big Lebowski … what a great movie.
so, here we go folks .. I’ve just ran thru the DJIA, NASDAQ and S&P 500 and ALL have sell patterns.
what does that mean? well, nothing … right? it’s all probability …
but, that’s what we play, probability …so, we have Gartley SELL patterns across the board – they will 1/ work or 2/ not work.
also, our favorite ratio is banging against the bottom of the range that it’s been swimming in for months .. but, take a look , at this lower level you will see an AB=CD, a 3 drives to a bottom and a butterfly BUY on the ratio. so, when the ratio goes UP then the market usually goes down …
we break down below our XLP/NYA level this puppy could rocket ship higher and, then again, the sell patterns work, the XLP/NYA level holds and we start selling off again …
09/12/2019 – market blew thru the pattern level and is very close to setting new highs in the ES. This represents a failed pattern … if you look we have some numbers coming in right below old high but as far as the VERY NICE sell pattern that was present – it’s cooked.
back to the drawing board to look for ANY pattern out there … no idea which ones work or which ones don’t … it’s all probability folks. going to take a look at my trusty XLP/NYSE or XLP/NASDAQ for a clue.
09/05/2019 – sell pattern complete.
First off – all over the world – have a great weekend and enjoy family and friends.
second, we have another ‘pure play’ SELL pattern developing that could get tagged in the Asian and European markets (US markets closed on Monday)
this pattern has pretty much all the ingredients that the BUY pattern last Sunday night in Asia was hit.
we have a projection (black dashed arrows), a 1.27 extension (square root of 1.618) and a .786 retracement (1/1.27) all coming together …
also, remember square roots and the inverse of square roots ties in the frequency of a string so that’s where the numbers come from …
As Mr. Tesla said .. “to understand the universe think of terms of vibration.”
Yup – Bart
Here’s from a week ago and our last post before some travel