4 year uptrend channel and possible rollover similarities to 2008.
Watch 1885 - 1783 zone to give clues
Scenarios if the bull run continues, a 2008 bear rollover, or if the large range sideways volatility continues through 2016, further frustrating both bulls and bears!
If the 2011 pattern continues and we do get a final flush down past the crash low on 8/24 - one option I see as likely is a final push above 2000 in the next day or two then down for a true test of the low.
Looks like price made it's needed retracement to stay in its' similar sync with 2011. Maybe a flush down move to 1900-1880 to convince the conservative 'retail crew' that this is THE selloff they've been waiting to get short for. Only to see price rebound back to the 2000 area. Or maybe tomorrow will be a face rip ...
Price revisited the down channel midline 1900-1920 area finishing the week just above. If the analog continues price would need to continue its bounce up to the 2000-2020 zone. Note: this would be between the 50 and 62 fibonacci levels measured from the May high to the selloff low.
If price makes the pivot higher ...
Looking at the analog I think it could be. Watch for a failed breakdown lower and subsequent buying price action as a clue to the next leg higher is about to start.
Looking at similarities in structure and proportions, both in price and the rsi.
Upon closer inspection of the 8hr line chart, I’m finding some interesting symmetry when aligning points where price held the bottom of the previous long holding range and which the initial selloff low and where price closed at the ...
Based on the past 2 year ever grinding higher move without a substantial correction, of course everyone expects (or needs?) a 10-20% correction from our current levels.
But what if the scenario that the absolute least number of market participants expects happens? What if the Nasdaq 100 were to double from here? ...
Are we about to see a strong price move higher, similar to 2014?
What you haven’t heard of it? That’s not surprising because it is only rolled out at times when a FMOC driven market has whipsawed sideways for months and coiled ...
I expect the market to find support around the 4800 level and make a sharp run back up for the remainder of March. To at least the 4933 level and possibly back up to new highs before the larger swing down continues.
Update to original post on 01/17/2015