OK. Looks like a classic top pattern on the hourly, right? Here’s what I don’t like about it. The right shoulder is higher than the left. The uptrend, while bending is still intact, and the big neckline is still below at 4140. If they break that with authoritah, then it’s a top.
Click to enlarge
But what kind of top? Here we deal only with intraday and slightly longer matters. So we’ll look for a boucne from either 4148 in the 5-6 AM hour in NY. Or from 4140, a little later. If they hold, no doubt the USA gang will again buy the dip. Well, we know they’ll buy the dip. We just need to predict the dip to what?
Beyond this, for the big picture check out:
Space Needle Construction Under Way
LEE ADLERAttention New York. Attention New York. There’s a storm headed your way. Board up your windows, and sandbag low lying doorways and windows. This will be your only warning.
Here’s an updated chart. I had to go up in the attic and find a red channel. Fortunately, there was an old one lying around, so I just rehung it.
The 5 day cycle projection is 4133.
This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post.
