INDEX:SPX   S&P 500 Index
401 12 4
Updated notes on chart.
Does'nt "22 october 2013" to "12 november 2013" look like the formation at "25 august 2014" to "15 september 2014" ? So the 1. top might first just had been started yesterday?
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KLang PRO michael.k.nguyen.9
I don't see any similarity.
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K... actually I tested your chart here against one my mine on IWM rounded top theory,
IWM looking to dip down off the moon phase trend lines

and what do you know, they sync. I expect a dip and then another bump (to bump #3) before we head down more significantly to either the trend support or perhaps even the double top support, and other reliable indicators agree. The time frame syncs well also. SP has been ahead and stronger than IWM for some time now, and the magnitude sync also. IWM's been dragging SPY around for a while now. Specs just dump high growth low sales tech when needed for ready cash, or at the hint of trouble. They ride the high and dump quick as you can say "Bob's your uncle".
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KLang PRO claydoctor
It's important to consider the current strength of DIA. It had been lagging for a long time while SPY IWM QQQ marched higher. Now it's moving like SPY.
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Its a new day, give the pattern a name (but not 1-2-3 V), but very well could be yet another forming. I've been doing some of the same thing, outside the box, new patterns, that are simply displaying the new currency manipulation driven market, and how traders are trading it. Comparing currency pairs to indices and even individual stocks is at least "interesting".
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KLang PRO claydoctor
"head explodes" - patterns are complicated enough, thanks very much - lol
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Yeh however, much respect and Kudos for respecting the patterns, and being open enough to recognizing new ones and validating them. Even better if we can trust the discoveries enough to profit from them. i.e. IWM rounded top, trying to trust it enough to play it more than a small play. Thanks for the posting, very much appreciated.
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KevinT claydoctor
Like this one?
snapshot
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KevinT KevinT
Zoomed out. Todays pull back on SPX was expected by pull back on GBPJPY hours earliers just after Scotland poll
snapshot
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yep, yen too is a playa
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