SPY H&S in ABC Correction EW 4: To Retest 24 Dec Low
Updated
Chart says all. updated prior post with corrected line positions given interval price changes. C wave length and duration mimics A wave. The H&S pattern appears to be an extension of the correction but note it is also a pennant, or continuation pattern. The trend: still down, entering a fifth intermediate of primary third wave. expect double bottom to retest 233 low. From there it should give a V-notched spike formation and a more powerful rally- perhaps near-vertical back up to or over 260-264. Get ready for fireworks! More to come. GLTA, HNY!
As always, for education and amusement not investment advice, trade at your own risk!
As always, for education and amusement not investment advice, trade at your own risk!
Trade active
Here we go again... bright red futures - tar 226 give or take a bit, see the blue box.Trade active
Closed gap, turned back at resistance, retested 12/31 closing price twice more- bearish!Trade active
Another EOD runup driven by FOMO? After hours a different story: Bad Apple!Trade active
My hammer pounded that chart down- sell the rallies, trade the trend!Order cancelled
Looks like greed got the upper hand over fear, sorry folks! GLTA, stopped out.
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