The measured move of a chart pattern is 100%. The time element is the same as the time it takes for the entire pattern to develop to the BO point. In the case of the inverse H&S on the S&P, it took 10 months to develop (Oct. 08 - July 09), so we target 10 months to reach full extension - April 2010.
The S&P notched a new high Friday on big volume following the release of the jobs data. However, the NASDAQ failed to confirm. That's the second time in a short period of time that the NAZ failed to confirm, so I'm expecting a pullback to the blue line on 60 minute chart. That is the short-term trend. The third test of the line makes or breaks the trend. Time for a correction?
As discussed earlier this week, the
MACD was way too high when the $
USD tested support, thus foreshadowing a bounce. Weakness in commodities...
The measured move of a chart pattern is 100%. The time element is the same as the time it takes for the entire pattern to develop to the BO point. In the case of the inverse H&S on the S&P, it took 10 months to develop (Oct. 08 - July 09), so we target 10 months to reach full extension - April 2010.
The S&P notched a new high Friday on big volume following the release of the jobs data. However, the NASDAQ failed to confirm. That's the second time in a short period of time that the NAZ failed to confirm, so I'm expecting a pullback to the blue line on 60 minute chart. That is the short-term trend. The third test of the line makes or breaks the trend. Time for a correction?
As discussed earlier this week, the MACD was way too high when the $USD tested support, thus foreshadowing a bounce. Weakness in commodities...
Tidak ada komentar:
Posting Komentar