SPX: The View from 30,000 Feet

Our charts have grown fairly “busy” lately, what with harmonic patterns, chart patterns, fan lines, channels, etc.  I find it helpful every now and then to take a step back and examine those elements that have had the biggest impact in recent years — and are likely to continue doing so. In my opinion, the … continue reading →

Bottom Fishing

EOD:  2:25 AM SPX overshot the Crab’s 1.618, whichever Point X we use.   The next major lines of harmonic support are are the red pattern’s 2.24 at 1342, correlating with the purple pattern’s 2.618 at 1341. Given the level of oversold on the day, here’s an alternative view. UPDATE:  11:55 AM The Crab Pattern … continue reading →