Waiting for completion of bullish Yellow Gartley and Bullish Cypher pattern - Buy from 2.70-2.65
Lower green, blue, and yellow areas signify valid ranges for the final legs of the Long term Gartley and Butterfly . This is strong buy area.
Look for shorting opportunities up around where the potential Blue bearish ...
SPY not showing strength . Bearish Gartley has completed. Any run ups into the 1.618 extension should be sold. This will still be valid Gartley territory.
Divergence on the RSI
On Balance Volume has not been able to make up volume lost from last week and has broken it's short term trend line.
MACD crossover and ...
We're in Gartley territory right now. and struggling to break the 1.27 extension of the A/B leg.
Potential completion of Bearish Bat pattern to form around resistance and 1.414-1.618 extension of A/B if Gartley is invalidated.
RSI wont reach overbought. Look for an exit from 60-65
MACD losing steam.
Looking for completion of short term Cypher or Shark with confirming move upward, and completion of mid term Max Butterfly or longer term Max Gartley at previous support. Circles denote valid price range for pattern
Buy 2.57 - 2.67
Target 1 3.15
Target 2 ...
Possible support at 150.00 going back to 4/26/2013
1.27-1.618 extensions of the previous 211.00 bounce are resting between 180 & 160
Convergence of the .786 and .86 retracement from the flash crash to previous high
Non Ideal Butterfly
.68 Retracement of the XA
.63 Retracement of the AB (would've liked to see .886)
D Extreme extension near the 2.24 of the BC
D = 1.27 of the XA
Convergence of the 2.24 & 1.27 = PRZ
Long Target 1 0.618 of the CD
Long Target 2 0.786 of the CD
Monthly Chart. Dow struggling to break 1.618 extension of 1975-2000 run up, AND 1.618 extension of the 2000-2007 run up, AND the 1.618 retracement of 2007-2009 crash. RSI exiting overbought, MACD crossover and divergence.