Additionally, the January and February numbers were also significantly revised downward.

from CNBC...February's numbers were revised lower to 264,000 from the initially reported 295,000, while January's number fell from 239,000 to 201,000.

Does it really take two months to figure out the errors in January and February? Perhaps they conveniently withheld the bad news for this three day weekend; now they have the extra day to spin the news so it may not be perceived to be so terrible come Monday.

Thanks - I understand that regarding today's price action, but trying to project ahead, it gave back half of yesterday's candle, so would that suggest a stronger potential for lower prices, or too close to determine since it closed at the halfway point.

Perhaps better to observe the intra-day charts where the upward price symmetry is still in charge.

Hi Steve & Matt,

Regarding the recent S&P price action and the tutorial strategies...

yesterday's bounce broke symmetry so we look for a higher low, which we got today, and also a double bottom at around 2041.... however, we also took back more than half of yesterday's up candle intraday.

Would the higher low and double bottom suggest going higher (as we see now)?  And the fact that we dropped more then half of yesterday's candle matter more to intra-day trade... I mean to ask whether today's closing price matters more regarding half of yesterday's candle range, considering intra-day or daily trading.

I agree... I was going to say, regarding steve's post, ... isn't this the pot calling the kettle black 

yesterday's newsletter, 2 hour chart (#13 in the set) has a target of around 2053ish... funny how patterns support possible price directions.

with the recent up and down nature of the market, there are many ways to see potential H&S patterns on various time frames.

Must there be a textbook pattern where the left shoulder comes up during an uptrend, or could any set of three peaks (lower-left), highest peak (Head), then lower peak (right) be considered a valid pattern to watch?

Thank you for all comments.

Hi... I'm looking at the SPX daily charts and made this chart with a large bear ascending wedge which measures to about a 200 point drop.

I'd appreciate all comments about this possibly playing out.

Thank you.

hello...

if the a wave up retracing the low at 1820 has finished at 1949 , it then retraced about 130 points, or around 65% of our decline from the 2019 high

I'm trying to project targets for a potential b wave down, retracing the a wave 130 points.

So my question is, what would be typical Fibonacci percent retracements for b wave down?  ... beyond just the typical 23%, 38%, 50%, 62%.... is there a stronger likelihood for any particular target for a b wave retrace?

Thank you for all comments!

LS at yesterday's open, Head at yesterday's low, and maybe RS if it pushes up now

the next daily pivot area is 1779???

agreed... took some nice profits... mostly in cash now and considering long positions... trading SPY

thanks

this is uglier than I have ever seen in my brief experience... My short positions are wonderful, but I'd appreciate advice for a day like today... what to look for regarding a turn-around?

thank you

looks like LS top at 1890, head top at 1899 and just now making RS

oops... BEARISH yesterday in RUT not bullish

yes, I see that... yesterday the RUT had a bullish inverted hammer (hanging man) but today it looks like a bullish inverted hammer.... if that makes any difference ???

so far it looks like we have an inverted hammer for today's candlestick...  this is supposed to be a signal for potential trend reversal upward.

Any validity to this ?

all comments appreciated!

any thoughts of an M pattern playing out.... very bearish, but on the 1 hour chart, from Oct. 2 low of 1926, up to Oct. 6 high of 1977, down to Oct. 8 low of 1925, up to Oct. 8 high of 1970 and now we are at new lows... already broke the 1925 neckline...

measure of pattern to around 1870ish.... which matches nicely with the lower trendline connecting bottoms back to Sept. 22

What do you think... according the to our Forex tribe page of 'best chart pattern summaries', there is a 71% chance of hitting once neckline is breached

Hi... what do you guys recommend for plotting/planning after so much yo-yo-ing after the FOMC announcement?  The last few candlesticks in the 5 min dwarf the entire day's prior prices.

Is it best to ignore the fluctuation and wait until it settles?

I appreciate all comments... thanks

brophy - thank you for this helpful link!... it took a little while of googling but I found the explanation of wave 4 overlap to wave 1 price which invalidated my chart

I will spend much more time looking at e-wave information before I post my next chart :)