US 30 IN ABC CORRECTION MINOR WAVE OF LARGER ZIGZAG
US 30 traded below Tuesday high of 25888, closing 98 points lower than 8/21 high, failing to confirm Sand P new alltime high on 8/24.
The zig-zag pattern is evident on chart. I marked this one as a more complex ABC structure as a 5 wave reaction (ABCDE) is evident in A wave.
Combined with bearish Gartley pattern confirmed 8/21, this latest rally attempt looks more like a B reactionary wave. Expect lower soon.
I wondered about this as puts I bought 8/21 above 25800 were still trading near my purchase price on 8/24, in spite of wild bullishness in Sand P, which was nice, but made me think;
"Hey why is Dow not keeping up and acts like stuck at 25800? Hmmm..."
This is a bear flag, resolving into final C wave soon. Will be pretty rough I'm afraid- be careful!
September is coming! Look out.
Good luck!
This is not investment advice it's just a fun post for education and ridicule. Enjoy!
The zig-zag pattern is evident on chart. I marked this one as a more complex ABC structure as a 5 wave reaction (ABCDE) is evident in A wave.
Combined with bearish Gartley pattern confirmed 8/21, this latest rally attempt looks more like a B reactionary wave. Expect lower soon.
I wondered about this as puts I bought 8/21 above 25800 were still trading near my purchase price on 8/24, in spite of wild bullishness in Sand P, which was nice, but made me think;
"Hey why is Dow not keeping up and acts like stuck at 25800? Hmmm..."
This is a bear flag, resolving into final C wave soon. Will be pretty rough I'm afraid- be careful!
September is coming! Look out.
Good luck!
This is not investment advice it's just a fun post for education and ridicule. Enjoy!
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