Yesterday, we suggested that maybe a second wave wasn't done yet to the upside. Today tended to bare that out.
After making a 90% retrace needed for the 'b' wave of a Flat wave, price then headed higher to the combination of the 100-day SMA, and the 18-day SMA. Keep on a watch out to see if the 18-SMA crosses under the 100-day.
Have an excellent start to the evening.
TraderJoe
KBWB (wkly) Bank earnings tomorrow -
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Xauusd (dly) A few observations -
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Note (fwiw) - the continuation pattern on a 2day chart is rising three methods.
DeleteIs it possible from July was XX?
ReplyDeleteI presented this chart a couple weeks ago pondering a monthly date specific low every 19th'ish and if market behavior was changing. We all see the gap just overhead on this chart I see potential for inverse h & s pattern at 4490 or are we seeing larger H & S top. Next Tues/Wed after the op-ex tomorrow could be quite significant for future price movement. 4 hr SPX cash
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Your chart gave me the idea that we could he in d of a running triangle for xx since July as well.
DeleteSPX - have we bottomed early and are now in a leading diagonal higher?
ReplyDeleteHow abt a triangle
DeleteSPY - 9/28 gap virtually filled (.07 shy currently)-
ReplyDeleteFully filled.
DeleteTop of gap currently offering resistance.
Deletevery quiet here today-
ReplyDeleteLooks like the 50ma is the target. They jumped over the line in the sand.
ReplyDeleteTwo views - SPY/SPXcfd -
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It’s also possible that the low in SPX was the A wave and now in B wave up with C wave down to follow. The c wave of A was a short wave though.
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ReplyDeleteTJ