ScottCarney
Long

Failed Harmonic Pattern Confirmed!

AMEX:SPY   SPDR S&P 500
This not a Crab and Bfly @ 1618! It is just a weekly 1.618 that is now failing. After 15 months and 2 significant pullbacks, this is officially a harmonic breakout SP500             above 2050! The 2.0 extension @248 is NOW the new target. This is what happens with price action after such a consolidation.
Scott Carney
HarmonicTrader.com
Founder
dont we need to wait for weekly close to confirm? if the weekly candle closes below 1.618, it is just a false breakout right?
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