US 30 near Pivot; Bearish Gartley Completed 9/14/18
Dow index has reached 1.618 Fibo on B-D arm 9/14 when pattern is drawn from closing price tops of candle bodies. A previous idea of mine showed it from top of wicks.
This is necromancy, folks. Somewhere in between lies reality. Expect to see that on Monday or perhaps Tuesday next week. Should arrive Thursday at the latest.
Target zone for pivot is depicted in chart with price labels. R3 is at 26331; anything is possible but it seems unlikely, given the geopolitical milieu.
Somewhere in the box between 26248-26288 is the most likely zone, just under the trendline reaching back thru June to April.
On decline, target is S1 at 25790, previously tested. Lower of course possible depending on sentiment and panic levels. S2-S5 depicted with labels.
Alternate path shown if rally fails; I expect index to test trendline in the box, however.
We have an exhaustion gap on 9/13 to backfill in a bear pennant, and investor sentiment is now >70% bullish, VIX near alltime lows and three major indices making new alltime highs.
See my linked post for explanation why 9/18 Dow of 26200 = 12/17 Dow of 27260. (Share buybacks, 2 components in bear territory.)
As always, trade at your own risk as I do not pretend to give investment advice and this post is an idea for education and entertainment only- good luck!
This is necromancy, folks. Somewhere in between lies reality. Expect to see that on Monday or perhaps Tuesday next week. Should arrive Thursday at the latest.
Target zone for pivot is depicted in chart with price labels. R3 is at 26331; anything is possible but it seems unlikely, given the geopolitical milieu.
Somewhere in the box between 26248-26288 is the most likely zone, just under the trendline reaching back thru June to April.
On decline, target is S1 at 25790, previously tested. Lower of course possible depending on sentiment and panic levels. S2-S5 depicted with labels.
Alternate path shown if rally fails; I expect index to test trendline in the box, however.
We have an exhaustion gap on 9/13 to backfill in a bear pennant, and investor sentiment is now >70% bullish, VIX near alltime lows and three major indices making new alltime highs.
See my linked post for explanation why 9/18 Dow of 26200 = 12/17 Dow of 27260. (Share buybacks, 2 components in bear territory.)
As always, trade at your own risk as I do not pretend to give investment advice and this post is an idea for education and entertainment only- good luck!
Trade active:
Appears to have started down the lower path after all- right on schedule.
Next three weeks will be spooky!
Next three weeks will be spooky!
