You Say Potato…

Tuesday’s declines had an impact on the harmonic picture, but not exactly how I expected. The large bullish Gartley that has been forming since 4/18 was completed at the lows (* on the chart).  The smaller 5/17 – 5/22 bullish Gartley targeting 1352 failed due to the extension of the CD leg; but, thanks to … continue reading →

Skating on Thin Ice

Putting together the harmonics with important support and resistance levels, I’m looking for the Apr 20 gap to be filled, then a strong rebound, reaching the 1350 area in the next few days.  I still have a target of 1380 as the end of P[2], but am looking at the possibility of a truncated fifth … continue reading →

Does OPEX Matter?

This past Friday morning, with SPX down about 9 1/2, I made a crazy call based on some indicators I’ve been watching [more later tonight or tomorrow.]  They said the market would not only stop falling, but would completely reverse itself and open up, leaving a nice bullish hammer going into the weekend and thus, … continue reading →

So Far So Good…

Quick update before the open… VIX call per the bearish Gartley was dead on.  VIX fell another 8% since the call, closing at 16.23  — down from 19.09.  The hourly charts confirm a continued fall over the near term.  My original target of 15.10 looking safe for the moment.  Very bullish for a continued rally … continue reading →

Are We There Yet?

While it would be easy to jump on the P[3] bandwagon right about now (and it wouldn’t take much convincing) a note of caution is in order. A pullback that stalls in the low 1320’s on SPX would leave a pretty well-formed bullish Gartley Pattern (Point B should be 4 points lower, allowing a fuller … continue reading →