futures were up for a while last night but have went negative, a
concern of mine that I discussed was that the RUT and QQQs have
already strongly broken their long term uptrend symmetry, their
pullbacks have been much greater this time than the one in Jan/Feb,
which confirms that higher lows will be formed in the future.
However the SPX yesterday only just exactly met it's symmetry
move from Jan/Feb of 337 vs 400 points. It's obvious that
it's only a matter of time before SPX exceeds the pullback amount
it did in Jan/Feb just like the RUT and QQQ's already have. However
I guess the question in the short term, does that break in long
term symmetry occur now or after a bounce? The market could bounce
a day or a few days and then go down after that to break symmetry,
or it could just do it now.
Symmetry Concern
Posted by matt on 30th of Oct 2018 at 09:19 am
futures were up for a while last night but have went negative, a concern of mine that I discussed was that the RUT and QQQs have already strongly broken their long term uptrend symmetry, their pullbacks have been much greater this time than the one in Jan/Feb, which confirms that higher lows will be formed in the future. However the SPX yesterday only just exactly met it's symmetry move from Jan/Feb of 337 vs 400 points. It's obvious that it's only a matter of time before SPX exceeds the pullback amount it did in Jan/Feb just like the RUT and QQQ's already have. However I guess the question in the short term, does that break in long term symmetry occur now or after a bounce? The market could bounce a day or a few days and then go down after that to break symmetry, or it could just do it now.
IWM - Chart Link- long term symmetry break
QQQ - Chart Link- long term symmetry break
$SPX - Chart Link- has not broken long term symmetry yet
Hi Matt, Will the Paint
Posted by dzurek2 on 30th of Oct 2018 at 11:36 am
Hi Matt, Will the Paint Dry system be closing out at the end of Oct ? Thanks Don
super charts, thanks Matt!
Posted by morton7 on 30th of Oct 2018 at 09:28 am
super charts, thanks Matt!