S&P500 4hr Harmonics

FX:SPX500   S&P 500 Index
75 3 2
Currently Short on the S&P500             based on orange bat pattern

Looking to take profit and reverse long on the gartley in blue aiming for a rally to 2020
Order cancelled: Invalidated
i agree Dion. All indices are facing a cyclical pressure.
+1 Reply
dionvuletich Gopalans00
Yes, I think so but I have spotted several medium term bullish patterns so am actually looking to cover some shorts and go long (not all though) as a side note I posted my long term view on the Dow for you... 100 years of the Dow...

Be interesting to see the Fed policy in 10 days, If they are still denying strength in the market and not moving interest rates then I fear it could setup a bigger problem (i.e. 1929 collapse) in a couple of years, the prudent thing to do is cool asset prices and re-price risk now with modest rate increases and allow the market to adjust accordingly... far healthier long term
smitheric1970 dionvuletich
Agreed, DV I think we will see the red zone reached on your chart prior to Sept 22; however, I am assuming that a bounce will occur after the announcement of a very mediocre rate hike at the Fed policy meeting. Then I'd love to see 2020-2040 by December and then short a much more orderly long term bear equities market. So same chart, but bounce after the 22cd regardless of what the announcement is.
+1 Reply
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