Tony should be returning sometime next week!
Thanks everyone for your well wishes!
Have a great Monday or Memorial Day!
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Have marked up Tony’s SPX chart with a possible projection for next week.
The hourly MACD displays a sequence of five IHS patterns, which is a Fibonacci number. This suggests a complete set of time-symmetric patterns to end the Int iv correction.
To make a symmetric pattern for the final IHS, there should be two more dips in the hourly MACD; but these ought not to exceed the depth of the head. Am uncertain whether these shallow dips in momentum will provide enough downdraft to hit the 2600(ish) level and complete an Int iv triangle?
It’s quite possible the downtrend will be weaker, but it should end by next Friday to produce a time-symmetric pattern.
If it is weaker, that would support a more bullish count, as it would presumably produce a second wave of some degree.
My analysis would seem to rule out a move back to 2532 or lower, as the MACD patterns don’t appear to support that.
A strong uptrend next week also seems unlikely; but assuming my analysis is correct, will be looking to go full bull at the next downtrend low.
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Phil, great call on oil yesterday. I know the target is 64.80, but I took the money and ran at 65.55.
Have a great weekend.
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thanks mm
did you pick that number
because it was the -618 target of the ext short on my chart?
if so ….. you get the money and a A+ on the test
kudos !
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This is going nowhere. ABABABABABABABABAB. Whoever is switching between put/call every 30-50 point swing is probably making a killing.
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Cr CBZ
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+5
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Looks like trump in hot water for tweeting about nfp
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“Pardon Me???” LOL
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Trump is the new “FED PUT”
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From Jesse’s Cafe,a gold chart and the various events that influence it-sometimes.There seems to be a “due factor”,on post NFP and the upcoming Fed meeting,to be positive,after two lackluster reactions to both events.But we’ll see.
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