Analog Update: April 24, 2012

The analog we’ve been watching since April 9 is playing out nicely so far.  We got the original bounce at 1357 as forecast, followed by a rise to the middle of our 1380-1400 target range.  The H&S pattern we expected did, in fact, set up and complete yesterday. Now, we’re back testing the little channel … 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 →

Charts I’m Watching: March 22, 2012

ORIGINAL POST: We’re finally seeing reactions on the harmonic pattern completions we’ve been watching for what seems like forever [see: Everything’s Coming Up Crabs.]RUT completed a Crab Pattern (in red) within the last leg of a Bat Pattern (purple) off the 2011 highs.  It never has cleared the TL off the May and July highs.  … continue reading →