Yes, I agree. Interesting bar count Top to Top. Did you know that if you get the average of both bar counts ( 469 + 463 ) / 2 = 466 Bars, which is a Double Fibonacci 233 count! ( ie. 89 + 144 ). As far as chart pattern, yes this megaphone pattern is significant as we are at the extreme of the pattern. We also have this same pattern forming on the daily, time will tell if put in an all time spike top around end 31 Oct to mid Nov, we will have to wait and see. I have added my chart workup on the daily.
Great chart
TIK
CommoditiesTrader
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I'm looking for the S&P 500 to surpass 2008/9 meltdown by 2018. A 71% correction from the market top via the SPY
as from year 2000to date was in uptrend a more likely target is the top of 1965-1982 I. e. 1156
Alisho
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yeap possible.. the chart is not that accurate.. for me it was important to show that we were already 2 times in the same "megaphone" pattern and it ended in tears :) So why it should be different this time.. The FED can't keep pushing more money in it.. it won't help in the long term.
jangseohee
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Gruezi, simple chart tells a thousand words, aint Madam Y is gonna pump in QE4, 5, 6, etc... Haha
CAP
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One thing is for certain I strongly believe that we are way past due for a major correction. It is just a matter of how much FEAR they intend to put out there .For now I looking for a 40% retracement to about 10,000
Great chart
TIK