The French Elections drove stocks higher last week. Nasdaq broke above 6000 and SPX is testing its All Time Highs levels again. We have a daily Gartley formation just below 2400. Will it hold? In this bullish market it is going to be a hard task... But with the VIX back below 11 again and SPX near psychological levels with harmonics... short term bearish...
This scenario will work on assumptions stated by the format "if...then..." If the price goes below the red line(4) then hold. THE IDEAL SCENARIO: If the price retraces to the red line(4) then it should go towards the black line(3); If the price goes above the black signal line(3) a buy is initiated. The green line (2) is the most important one because if it's...
The pattern have to conclude the cd leg to be completed we ll see