LOL Richie… Even if we rally up past the 1325-1330 target I stated, I don’t see us going past that double top area and that 135.14 spy print. However, if that happens, then the crash shouldn’t happen this week. It will be pushed out another week (no surprise there… huh?).
Ahhh.. the “T” theory. You could be dead right on that call. Were you also pointing to 1342 as a level to be hit, or just the time period of 9pm Tuesday?
If price sustains above 1320 the neck line. It should target 1330 and 1334.
FP – SPY 131.75 at 8:14 will email Red with screen shot…
I avoid calling levels in the same chart with a T.
I try to state there is positive rising pressure on the right side of a T.
hence I color it green.
🙂
Thanks San… I missed that H&S pattern when I did my video. What’s the upside target on it playing out?
LOL Richie… Even if we rally up past the 1325-1330 target I stated, I don’t see us going past that double top area and that 135.14 spy print. However, if that happens, then the crash shouldn’t happen this week. It will be pushed out another week (no surprise there… huh?).
ES Chart: http://niftychartsandpatterns.blogspot.com/2011/02/s-500-before-opening-bell_28.html
so red,
in celebration of a potential market adjustment downward, should i part my hair down the middle or off to the side??? good trading everybody!!
Ahhh.. the “T” theory. You could be dead right on that call. Were you also pointing to 1342 as a level to be hit, or just the time period of 9pm Tuesday?
On the fifth line down… “The stock market is traded by human beings” LOL. He missed that one! 😉
yep.
http://robinhoodtrader.com/2009/12/12/technical-talk-chart-patterns-double-top/