2/19/16 CASY

Stock indexes are set up to fill new years gap if can hold recent lows.  

/ES has above 10 ma.  vW to 2008.5 triggered.  vW to 2054.5 formed.

Russell

Oil has vW to 41.08 and a W to 42.35
Break above 34.82 nulls vM lower

Hourly chart shows CASY testing its 200 day moving average(white line), 

after a head and shoulders pattern hit its target price of 106.53, and dipped below to 103.99

Has possible double bottom(magenta W shaped lines) forming towards 131.18(new highs) if can hold 103.99(the low of the W) and can break above 118. With macd convergence.

If cant hold 103.99 -103.20 level, expecting head and shoulders target prices of 96.79, and possibly 91.08

FYI:The green line is the 10 day moving average, and the red is the 50 day.

Magenta rectangles are used to show distance to head and shoulders target price.  When price target is hit I change them to yellow and eventually delete them.

The red dashed line(would be green for inverted head and shoulders) is the neckline.  Once it breaks below(or above for inverted h&s) it is considered triggered and has over an 80% chance of hitting its target price.  

These patterns are nulled if price goes above or below the head of the pattern.  In CASY case, it needs new highs.

CASY closer look