Harmonic Perfection - D-leg up is very much a possibility

FX:SPX500   S&P 500 Index
Harmonic ABCD Bullish argument

50% fib retrace of latest a-leg move up from lows at 2070,6 makes the harmonic pattern very much possible!!!

I have adjusted channel and fibs to latest development.

Closing price will be interesting today!

Trade what you see and stay en garde!


Futures open here for monday's trading with a gap down, but I am looking a gap close and further up side.

Trend on timeframes up to 30 min:
20 hours atom you are suggesting traders to short SP. After a few hours you wrote this article and asking traders to long SP. So, long or short?
jimmy_hongkong jimmy_hongkong
WallStScalper jimmy_hongkong
Well that is completely up to you to decide ONLY Your money your decision!! I can't do that. I present what I see. Market is dynamic and I move with it by presenting what can be a bull argument and a bear argument. Market is at the edge so naturally bulls and bears have some kind of tug of war here. If you want my longer term opinion you have it in my Broken Arrow chart.

The difficult part of trading is timing...if you ask me for certainties... I'm sorry I can only give you probabilities. If you want to go short now and live with the possibility of have a month of pain before the real correction ... it's up to you. I only look at support and resistance for clues.
Best regards @BLawrenceM
+1 Reply
KevinT jimmy_hongkong
If you went short 20 hours ago, you have a decent profit.
+2 Reply
KevinT KevinT
So nothing wrong with BLM's analysis.
+1 Reply
as things stand we are down for the week and the month so bias at this stage is down
Remember always to stay a contrarian trader in the market by looking over at the other side for ...bullish arguments. I do not disagree in your statement but trying say... don't be convinced of bulls resigning nation before they (Central Banks) not breathing any more. They might only have made a power nap when market opened. Best to your trading :)
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