TomNewYork
Short

Bearish Gartley in SPY

AMEX:SPY   SPDR S&P 500
There is a bearish gartley pattern in the SPY             . This pattern is also seen in the well diversified NYSE index. This particular pattern gave a clue it might work with the 2 candlestick dojis at the D point of the pattern.

The sign of weakness today seems to confirm that this pattern is working and could lead to heavy selling going into next week.

Note that a harmonic pattern also displayed itself at the 1987 top and there was also a DOJI near the end of the pattern before the final crash leg unfolded.
You don't show what time scale you are working in?
Reply
TomNewYork Billhinge
these are daily price bars
Reply
Billhinge TomNewYork
Thank you ;-) Do you spot these by eye or do you use a pattern detector script? How necessary is it to get the numbers textbook accurate?
Reply
TomNewYork Billhinge
I use a pattern detector and there is a margin of error on the individual retracements.
Reply
Billhinge TomNewYork
Thanks, I use a pattern detector but even so they can be a bit less than obvious as to where to put the points
Reply
Bullshit
+1 Reply
TomNewYork BabushkaTrader
still think my post was bullshit ????
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out