Monday, March 20, 2017

Anything look familiar?

If you watched my weekend video, you might see some patterns here that look familiar. If not, might want to watch it a second time - with popcorn!


SP500 Half-Hour : Patterns in a Potential Triangle

By the way. We know that the five waves up to (c) at 2389.70 on FED day, Wed, March 16th, were, in fact, an ending contracting diagonal - as we had surmised in live chat - because the start of that diagonal has been exceeded lower. Now, it looks like we have another contracting diagonal lower.

This suggests in the very short term the next move will be up, then down. A triangle is not a certainty. It is only a probability until it proves itself.

Have a good evening!
TraderJoe

7 comments:

  1. Thank you very much Joe, your videos and your analyses are very useful not to lose the course.

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  2. Joe,

    Sorry, I have to say that again:

    Magic!!!!!

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  3. Hi Joe,

    What is next for short, particularly if tomorrow gap down, can go long? I appreciate it if you would like to share your thoughts.

    - David

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  4. Is the bill Williams methodology failing to correctly count this impulse now?

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    Replies
    1. Who said the wave is overall an impulse?

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