The Roku IndicatorYou know what's weird?
Roku's daily chart.
Roku's daily price action on any given trading day is bizarre, to put it mildly. Every general progressive wave up reaches a near-term high that is exactly 1.236 times the orthodox top of said wave. Further, every broader corrective wave settles around the 0.5 retracement level. For visual ease, I've only provided one example of this, but I tested it on the other two larger wave cycles as well.
While this is, in fact, weird, there are enough examples of stocks that abide by strict and repeatable harmonic rulesets where something like this can be categorized as "weird, but so what?"
Rather, what is truly strange about Roku's stock chart is that it has an apparent, uncanny relationship with the S&P 500. See for yourself.
Notice that exactly six days after Roku's stock prints a tall, black daily candle that precedes a bullish run to local/all-time highs, the S&P 500 drops - sometimes significantly so.
The precision with which this occurs in exactly six-day increments is, to me, an extraordinarily strange observation. If this pattern is to confirm once again via a terribly bearish day across markets tomorrow, then I will legitimize this relationship by dubbing it, "The Roku Indicator."
And that.. would be weird.
- A Pig That Is Dreaming or A Pig That is Streaming?
NASDAQ:ROKU
SPCFD:SPX
NASDAQ:NDX
CURRENCYCOM:US500
CURRENCYCOM:US100
