$SPX - Chart Link - My math was bad below
on the symmetry pullback as I had it at 42 points vs 52 - corrected
it on this new chart the pullback from the highs to the intra day
lows was 58.4 points, which roughly matches the deepest pullback in
the uptrend in Feb of 56 points, for now it broke it by 2 points,
which I don't consider a symmetry break yet, but maybe logical area
for a reaction bounce - my thought would be if a bounce occurs from
here price may sell off later on or next week and tag the 50 day MA
on the daily charts, that would break symmetry, which would set the
stage for a lower high on a bounce
we'll see how the day ends of course because if the market makes
now lows again then I'll have to update this and it may break
symmetry today, just pointing out my math was off 10 points last
time
thx, I don't always get to share on the community as often as I
would like because sometimes I'm involved on backend website issues
or systems, glad my posts help when I can do them
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SPX 2 hr view correction
Posted by matt on 29th of Apr 2016 at 12:12 pm
$SPX - Chart Link - My math was bad below on the symmetry pullback as I had it at 42 points vs 52 - corrected it on this new chart the pullback from the highs to the intra day lows was 58.4 points, which roughly matches the deepest pullback in the uptrend in Feb of 56 points, for now it broke it by 2 points, which I don't consider a symmetry break yet, but maybe logical area for a reaction bounce - my thought would be if a bounce occurs from here price may sell off later on or next week and tag the 50 day MA on the daily charts, that would break symmetry, which would set the stage for a lower high on a bounce
we'll see how the day ends of course because if the market makes now lows again then I'll have to update this and it may break symmetry today, just pointing out my math was off 10 points last time
beautiful bounce from the 30
Posted by matt on 29th of Apr 2016 at 01:15 pm
beautiful bounce from the 30 min hammer, was setup so nice
Matt: You are the best.......your
Posted by nichi on 29th of Apr 2016 at 01:17 pm
Matt: You are the best.......your interim explanation is wonderful guidance.
thx, I don't always get
Posted by matt on 29th of Apr 2016 at 01:19 pm
thx, I don't always get to share on the community as often as I would like because sometimes I'm involved on backend website issues or systems, glad my posts help when I can do them