It's been a tricky trading year so far and if I've learned anything, it's not to take a pattern for granted. While the PINK Crab
remains valid - it's taking a lifetime to get to it's target. I'm always looking at shorter time frames for patterns to play and that will not change now. We have reached the Gartley
PRZ which means - book at least some. If price does want higher the RED and PINK Crabs have similar targets, making upside far more compelling. But, today is not the day to establish a new long in indices IMO
. Interestingly, SPY
does not show the same Gartley/Crab. At best it shows a Butterfly
with a different starting point which I posted last weekend.