ORIGINAL POST: 9:30AM The dollar and the euro each overshot our short-term targets just a tad, but are resuming the path we mapped out for them last week. The EURUSD came very close to a key .886 Fib level, prompting many to wonder “was that it?” I wasn’t so sure, myself. The resultant sell-off was … continue reading →
Tag Archives: gartley
It’s been a while since our last look at the big picture in NDX. I’ve focused more on broader indices such as SPX, RUT and NYA. And, NDX has been subject to excesses, thanks to the impact its largest component — AAPL — has on its performance. But, over the past several months, it’s been … continue reading →
ORIGINAL POST: 11:30 AM SPX might be tracing out either a flag or pennant pattern on the 15-min chart. While either could portend higher prices (2/3 of the time), a flag would mean lower prices first — probably down into the mid 1370s. At first blush, the market seems to be respecting the last … continue reading →
Bat Patterns are one of the more common harmonic patterns. They are similar to Gartley Patterns, except that the AB retracement can be anywhere less than the Fibonacci .618 of the XA leg and the AD leg completes at the .886. Because the AB leg can be anything < .618, we have to be a … continue reading →
The market continues to follow our forecast nicely. Recall we sold our longs and went short at 1330 on Monday’s opening, only to cover and go long later in the day at 1315 [see: Channel Watch]. Now, we’re back to 1332 and still long — as long as the channel holds. It’s been a wild … continue reading →
I haven’t traditionally followed the FTSE-100, having found plenty of ways to lose money in markets closer to home over the years. But, at the urging of several members who have promised to go easy on me as I get up to speed, I’ve been taking a crack at it. I trade and chart on … continue reading →
Periodically, I like to go through and chart the various harmonic scenarios for both the upside and downside. It helps to pass the time while sitting and staring at the computer monitor, watching our forecast play out (so far, so good.) It’s also helpful in generating a set of potential outcomes for the market over … continue reading →
Taking another stab at VIX’s daily chart. Yesterday’s low of 17.09 was just .03 off the .786 Fib level of 17.12 we mentioned a couple of days ago [see: The VIX is In]. There are a couple of different interpretations. Fist: that the smaller (red) pattern is complete at the .886 and should reverse strongly. … continue reading →
ORIGINAL POST: As expected, the Fed threatened much but did little – extending Twist through the end of the year. Stocks and commodities didn’t much like it; the dollar is up nicely. If the sell-off holds or accelerates at all, it will confirm the Point B we placed at 1363.46 yesterday — the Fib .618 … continue reading →
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 →