STAY BULLISH on this WEEKLY C-D leg breakout up to MINIMUM 1.618@204.
I've been discussing these targets for months (INDU=20,500 Minimum)
HARMONIC TRADER TIP: In Crab+DeepCrab patterns, EMPLOY THE 1.902 extension, especially when the trend is strong. The trend is STRONG so look for DIA to reach for 214.50 area for this situation.
Hello Harmonic Traders!
I would like to begin my renewed contribution to the HTTV community with the following Bearish AB=CD Type-2 harmonic resistance at a critical juncture. The DAILY RSI is stalling at the 50-midline. The general 61.8% retest at the 1.34 level as measured from last year's peak defines the price zone for a larger downside continuation with a...
Facebook just completed an AB=CD from the past year! If the mkt is going to breakout, FB must surmount this harmonic resistance. Although the stock will temporarily consolidate at this natural level, keep an eye on "Zucker-book" ABOVE 130 for the trigger of a year-end NASDAQ breakout.
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.
BIG BULLISH BAT @ 0.9250...Look@RSI still down until we get here....I like to trade bearish intraday patterns into the PRZ until larger timeframe reached....something to consider!
Have a Great Harmonic Weekend,
I am BEARISH on SPX w/ 1570 as the big WEEKLY target. These Bullish Bat patterns are great intraday long trades but the trend is down. We just hit the TYPE2 reversal of BOTH. This is the line in the sand for bulls - short AND long-term. A violation of 2030-2035 will trigger the decline. The #s to watch on the downside are 1950, then 1830 then 1570.