I see a bearish butterfly pattern on SPX with a 2.618 extension up to point D, which is where current price level is, normally this should/would retrace back down to 1,350 – any ideas?
Forex KongNovember 20, 2012 / 8:01 am
Wow….that’s a lot of number’s n math Richard!
I have little faith in anything playing out quite that specific – but certainly re tracements of large moves are a regular part of market dynamics. Considering such a significant turn and as powerful a day as yesterday – Im of the thinking that we get some follow through here today…or some flat consolidations. 1350 isn’t in my sights – but (as we both know) that doesn’t mean it isnt gonna happen!
Long in Seattle.
just holding NZD/USD….. all my final PM positions were placed last…. now we wait…. relax a little
Nice.
Short and to the point here as of last night…in that….there really isnt much else to say….QE money hittin the markets all day to day and tomorrow.
I see a bearish butterfly pattern on SPX with a 2.618 extension up to point D, which is where current price level is, normally this should/would retrace back down to 1,350 – any ideas?
Wow….that’s a lot of number’s n math Richard!
I have little faith in anything playing out quite that specific – but certainly re tracements of large moves are a regular part of market dynamics. Considering such a significant turn and as powerful a day as yesterday – Im of the thinking that we get some follow through here today…or some flat consolidations. 1350 isn’t in my sights – but (as we both know) that doesn’t mean it isnt gonna happen!