Indices bounced, but only after falling well below vM target prices. I think for long term markets, it would have been better for them to fall further and bounce from the lower vM target prices. If prices roll over and fall to the lower vM target prices, they will form much larger patterns lower, not shown on the following charts.
The S&P fell well below vM target price of 2489.5, but has currently retaken it.
Has small vW's to 2529.75 and 2628.75 that are triggered. Larger time frame vM to 2273 remains triggered unless price climbs above 2660.
Has small vW's to 2529.75 and 2628.75 that are triggered. Larger time frame vM to 2273 remains triggered unless price climbs above 2660.
The Russel formed small vW to 1412.9
VM to 1218.2 is still triggered.
The Nasdaq formed vW to 6745
vM to 5478.5 is still triggered.
The Dow has formed vW to 24346.
vM to 21242 is still triggered.
XLF has hit and trying to bounce from vM 22.65
Small vW to 24.64 is triggered.
vM to 20.28 is still formed.
Oil has formed a bear flag to 24.39
The Dollar has triggered a vM to 94.410
but ultimately looks like it wants higher.
Gold has un-triggered its vM to 1121.2, above 1369.4 nulls,
and will trigger vW to 1708.3
Bonds have continued their rally higher.
A very likely scenario here is for a pullback to GAP 156'06
before resuming rally towards vW's 164 and 174
Copper is testing necklines between lower and higher.
No comments:
Post a Comment