Seeing a little backtest of the fan line this morning, should be limited to 1141-1144.
Comments
Intra-day: September 23, 2011 — 1 Comment
This may help somewhat… The S&P; has clearly formed an H&S; yet it has not breached which shows any day now and early next week fits that description… When we complete the H&S; (day session ends in breach of support line) institutional/commercial algos SHOULD start in the extended session followed by a bigger selloff in the next day session and followed by a LOGICAL kneejerk (hence your new fan line) (but >>> markets do not rely on logic)…
Good news is… We do have a confirmation of a H&S…; 😀 Have you been looking at the finance sector? They usually are the sector to flash the first warning before a major decline > 3 days…
Included is a link to the Russell Financial chart… Clear confirmation…
This may help somewhat…
The S&P; has clearly formed an H&S; yet it has not breached which shows any day now and early next week fits that description…
When we complete the H&S; (day session ends in breach of support line) institutional/commercial algos SHOULD start in the extended session followed by a bigger selloff in the next day session and followed by a LOGICAL kneejerk (hence your new fan line) (but >>> markets do not rely on logic)…
Good news is… We do have a confirmation of a H&S…; 😀 Have you been looking at the finance sector? They usually are the sector to flash the first warning before a major decline > 3 days…
Included is a link to the Russell Financial chart… Clear confirmation…
copy and paste —-> http://db.tt/RBi8Ju8p
I have huge open wagers sunday night we should see japan and then europe kickstart it off
Have a beautiful weekend