Tag: indu

Sometimes you eat the bar and sometimes it eats you …

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 …

all probability …

DJIA 3 drives to a top pattern Monday 11/30/20

the two charts below are showing 2 three drives to a top pattern … the timing shows Monday 11/30 as the key date.

this chart is a 15 minute chart and showing the “three drives within a three drives” … kind of like Inception “dream w/in a dream w/in a dream” I guess ….

there are some higher targets but I would consider a daily close BELOW the gap area shown to be important for the bull case.

28.48 and the DOW

if you do a search around music on this blog you’ll see a pretty long post about using music and logs to calculate targets. a chart from that blog is here:

until tonight did I think about the correction this year and it’s harmony w/ 28.48. well, shucks, it perfectly nailed the .382 from that all time low. we will see some iteration of 28.48 at the final high – whenever that may be because TIME will always EQUAL PRICE at the final high or low.

long long way to go to 40K and it won’t occur in a straight line BUT hopefully some of us will be around when it hits that upper target ….

%d bloggers like this: