Saturday, June 25, 2016 5:56:27 AM
Prescient weekly on june 4.
Weekly june 4 rounding pattern chart. (spx at 2099)
Its shows the weekly market rounding pattern and normal behavior
1-it said one more high since markets just love to finish patterns
with a new high. (closed above spx 2111 , at spx 2120)
2-It then shows a return to spx 2024 (at spx 2037 now) the weekly 50 da
this has not happened yet. This will be the 2nd retest. Then it shows
a bounce and finally a failure.
The chart is not prescient (i just like to use the word).
It is normal market behavior. There was one great fake out during
this move. The oil monthly went above the BBCL. It changed big time.
Problem was the oil monthly was not yet done. Now the spx monthly
was in bull market turf. Above the monthly BBCL looking fine.
Now its in bear market territory.
Bear markets always begin with some crazy event. Boy was the
Breexit insane. Unless the market bounces off spx 2023 and uses that
as support and rallies hard everything changed last week.
june 4 weekly and live chart below
http://stockcharts.com/h-sc/ui?s=%24SPX&p=W&yr=0&mn=10&dy=0&id=p91692260462
Weekly june 4 rounding pattern chart. (spx at 2099)
Its shows the weekly market rounding pattern and normal behavior
1-it said one more high since markets just love to finish patterns
with a new high. (closed above spx 2111 , at spx 2120)
2-It then shows a return to spx 2024 (at spx 2037 now) the weekly 50 da
this has not happened yet. This will be the 2nd retest. Then it shows
a bounce and finally a failure.
The chart is not prescient (i just like to use the word).
It is normal market behavior. There was one great fake out during
this move. The oil monthly went above the BBCL. It changed big time.
Problem was the oil monthly was not yet done. Now the spx monthly
was in bull market turf. Above the monthly BBCL looking fine.
Now its in bear market territory.
Bear markets always begin with some crazy event. Boy was the
Breexit insane. Unless the market bounces off spx 2023 and uses that
as support and rallies hard everything changed last week.
june 4 weekly and live chart below
http://stockcharts.com/h-sc/ui?s=%24SPX&p=W&yr=0&mn=10&dy=0&id=p91692260462
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
