09/09/2015 Live Update

[marcueus]

Looking at small channels ....

uzt.png

Yes, I fully agree with the move down, starting around tomorrow or the next day.

Expecting the -119 points that is represented by the first four candles from 1833 to 1953 before the first W.

We don't know if there is going to be a move down - we have to wait for SPX to break lower out of the green channel, for SPX to break the MA 233 on the 5 min chart and to stay down into. A close below these support levels suggests the market might go down ...

I based that statement on the pattern that I described. From 1834 to 1953 there are four candles which represent 119 points. Then there is a W formation, then an island top, then another w formation which is a mirror image of the first W. All that we are missing is the - 119 points down. I know this sounds bizarre, but I have been trading on this, since I recognized it with success.

I will stop this description, as I fear I will be labelled "the crazy one," which might be accurate!

Well raise a glass to the "crazies!"

That W is calssical harmonic pattern with failed Up break out - so going to be interesting

[ALdaytrade]

Looking at small channels ....

uzt.png

Yes, I fully agree with the move down, starting around tomorrow or the next day.

Expecting the -119 points that is represented by the first four candles from 1833 to 1953 before the first W.

We don't know if there is going to be a move down - we have to wait for SPX to break lower out of the green channel, for SPX to break the MA 233 on the 5 min chart and to stay down into. A close below these support levels suggests the market might go down ...

I based that statement on the pattern that I described. From 1834 to 1953 there are four candles which represent 119 points. Then there is a W formation, then an island top, then another w formation which is a mirror image of the first W. All that we are missing is the - 119 points down. I know this sounds bizarre, but I have been trading on this, since I recognized it with success.

I will stop this description, as I fear I will be labelled "the crazy one," which might be accurate!

Well raise a glass to the "crazies!"

So did you see where this closed today? We are working our way down to -119 on the SPX. When we open up tomorrow, short the market.