It can be many things but so far is looking like a bottom megaphone- and the last point under construction. That being said- still short until around $11.70. It could be the last short move and reverse.
Pattern confirmation: on the third upswing price breaks above the prior high level and fails to fall below the level again.
Comments
spola2
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sublimares2 how did you come up with the price target of 6? pls share a chart if you can
sublimares2
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I just posted above- click on the link- no idea why it did not post it as picture....technical measurement of channel gives 6. However, major support @8.50
spola2
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bought yesterday at 11.9 and exited today at 10.7. thought it bottomed out yesterday. having serious consideration whether to enter this or leave it for good?
sublimares2
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There is another option: what about entering this later? Patience with this one if you want bottom fishing:) It just made a gap down- you can buy it cheaper and all is good:) Patience and keep it on watch list
sublimares2
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Megaphone pattern- sayonara
What a day for JCP! The good news is one can buy JCP cheaper:)
QuantitativeExhaustion
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Pays to sit tight. Looks like we shook out early bulls. Need big money to chase these bears away for good.
sublimares2
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We are approaching the moment. I would guess that a bottom will be between 6 and 8. Major support @8.50- lets see what happens. Interesting the volume spike.
QuantitativeExhaustion
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Thinking we stick... I don't see a big market move until Nov. 10
sublimares2
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Any astrological activity that time? I remember Mercury goes retro next month
QuantitativeExhaustion
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Elements Chart with Geocentric chart... Oct. 17/18th (Aries Lunar Eclipse) bad through Oct. 21/22 (Mercury Retrograde into Sun Sign Scorpio -- same move as Oct. 19th , 1987 Black Monday Crash) Mercury, Venus and Saturn are also in Scorpio). Matter of fact Mars is configured to all three planets by superior* sign-based square from Leo throughout first half october. This situation is alleviated until Mars moves into Virgo around Oct. 15th. This is hampered as soon as Mercury goes in retrograde Oct. 21. .. I'll post more soon in a published astro chart with SPY