WallStScalper
Short

Repetitive pattern and a Duck

FX:SPX500   S&P 500 index of US listed shares
836 8 6
Looks like a duck
Smells like a duck ... well is it a duck?

Time will tell as always!

Safe trading ladies and gents!

@BLawrenceM

Music at work: https://www.youtube.com/watch?v=Wq8ABdKCbdU
Wall St Scalper
JohnKeverich
2 years ago
The index can pullback a little, recover, and then this pattern will look a lot like inverted H&S
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WallStScalper PRO JohnKeverich
2 years ago
Thx for Ur comment. What's a little ... what handle ? I don't see the possibility ... Price is above a possible neckline already.
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JohnKeverich WallStScalper
2 years ago
I'm talking about a pullback just under 2000. Then a decisive break above the old trendline. I think it can work. The alternative, i.e deep correction just doesn't make any sense to me, when you consider the fundamentals.
snapshot
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WallStScalper PRO JohnKeverich
2 years ago
Well In this game U can never rule anything out. It's a possibility yes but the neckline is very sloped and I'd say that lowers the possibility in my view. It could happen yes. If the retrace is about the 38,2 of last swing high and low... it could be setting up a wave 3 up. But it's all in the future and for me to far away to really have any chance right now to say something meaningful about it. It's an option to have in mind. when or if 2000 shows up.
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JohnKeverich WallStScalper
2 years ago
Well, we did retrace to 0,382.

2150, here we come! :D
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WallStScalper PRO JohnKeverich
2 years ago
For the time being bulls (FED) are trying to kill the bear by buying futures in premarket....(yes the game is rigged) and hope it will cause a short squeeze when market opens. If it succeed the 78,6 retrace will be the test Above - and I'm much more likely to agree with your forecast. The futures has now retrace a 61,8 percent in premarket and it's much more likely to fall back to the 50 percent mark before a decision can be made on direction and possible of further upside. Thanks for your feedback!
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TonyTan
2 years ago
The market is waiting for tomorrow's data but I think something has already leaked out. Look at the sharp rise with heavy volume at 12:30 EST.
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WallStScalper PRO TonyTan
2 years ago
The reason for the heavy volume was this (manipulation as always): http://www.zerohedge.com/news/2014-12-04/here-comes-stick-save-ecb-qe-coming-headline-sends-stocks-new-record-high
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