SPY H&S in ABC Correction EW 4: To Retest 24 Dec Low

Chart says all. updated prior post with corrected line positions given interval price changes. C wave length and duration mimics A wave. The H&S pattern appears to be an extension of the correction but note it is also a pennant, or continuation pattern. The trend: still down, entering a fifth intermediate of primary third wave. expect double bottom to retest 233 low. From there it should give a V-notched spike formation and a more powerful rally- perhaps near-vertical back up to or over 260-264. Get ready for fireworks! More to come. GLTA, HNY!

As always, for education and amusement not investment advice, trade at your own risk!

עסקה פעילה:

Here we go again... bright red futures - tar 226 give or take a bit, see the blue box.

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Closed gap, turned back at resistance, retested 12/31 closing price twice more- bearish!

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Another EOD runup driven by FOMO? After hours a different story: Bad Apple!

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My hammer pounded that chart down- sell the rallies, trade the trend!

הפקודה בוטלה:

Looks like greed got the upper hand over fear, sorry folks! GLTA, stopped out.