Timing is key
Short

Possible EP formation with 3 drives terminating at P5

INDEX:DJY0   DJIA
578 6 4
I posted this chart as an update to the original but I feel it needs to be posted on it's own merits as it is showing very good symmetry. The market has now broken multiple median lines and has cracked the upper parallel of the downward purple fork on it's way to challenging the existing all time high on the 19th Sep @ 17350. It is eerily following the white dotted arrow to my topping area of approx. 17650. I will be watching closely for an exhaustion move/candle formation if it reaches this area as I am sure many bearish traders will have their Stops sitting around there too!

Sincerely,

TIK
Time & Price Bulls-eye:) Now that my head is half inflated let's get the reversal to complete the job:)

Have a great weekend.
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Continues to follow the line:) Probability tells me that the upper green dotted parallel is the likely target. Will be watching closely at the Candle that hits the line for early signs of a reversal. If it hits the RED DOT Bonus confirmation. All the best

TIK
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Timing is key Timing is key
Got the touch of the upper green dotted parallel ( almost a bullseye on my RED dot ), Will be interesting to see if we get the reversal here ( Good Symmetry supporting it ), or if it continues to a higher P5. Notice how the last 6 candles are extremely small and condensed, with this last "spinning top" reversal candle at the upper parallel. let's see how this unfolds
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giankee Timing is key
I've been monitoring both S&P and DOW especially because of their resemblance in the charts. Today's action on both gave a sign of possibly exhaustion of this nice rally up but Nasdaq and Russell held fairly well. It does feel like we're near or at a crossroad. Volume has been quite anemic on this rally. Tomorrow possibly the day the markets decide to make a turn?
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Spinning top & now Doji on the DOW at the line! all reversal signes. My ego would be satisfied if we got the reversal here, however that aside, The S&P has already hit the weekly upper parallel of a huge pitchfork, we had the recent savage short term correction and now we have just rejected the underside of the Median Line of the upward narrow channel pitchfork ( Zoom in to the chart below ). This is another "Sell Signal" so we have both indicies at their pitchfork extremes both on the daily and weekly so we now need to confirm down hard by taking out some daily swing bottoms.......Also note the mainstream media is extremely bullish....also a tell:)
Reaching for the extreme! on the S&P500
+1 Reply
great
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