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There is a potential (emphasis

Posted by timebandit on 11th of Jan 2022 at 09:04 am

There is a potential (emphasis on potential) diamond taking shape in JNK. I haven't added the 4th line yet, because it depends on price continuing its bounce. No predictive value at the moment. Just a heads up.

Thanks timebandit. So if this

Posted by retirefire on 11th of Jan 2022 at 09:21 am

Thanks timebandit. So if this pattern plays out with a bounce I believe it would be bullish for markets (SPX) ?

how he has that drawn

Posted by matt on 11th of Jan 2022 at 09:30 am

how he has that drawn it's more of a bear diamond with the top point to the left of the bottom one

That's what I was thinking

Posted by timebandit on 11th of Jan 2022 at 09:40 am

That's what I was thinking (bearish). Again, it's preliminary because price needs to continue its bounce

yes, either way .. but

Posted by retirefire on 11th of Jan 2022 at 09:48 am

yes, either way .. but bulls need bounce

I mean bears need a

Posted by matt on 11th of Jan 2022 at 09:52 am

I mean bears need a bounce too

This is a great way

Posted by timebandit on 11th of Jan 2022 at 10:33 am

This is a great way to look at it: bears need a bounce.

Matt, I have been following

Posted by Ray on 11th of Jan 2022 at 10:09 am

Matt, I have been following your wave count on the 5 minute chart you issued this morning with Stockcharts set on 15 second refresh rate. Although I would never have the guts to trade a 5 minute chart, it is amazing how the market ($SPX) is following your projections. Sort of mesmerizing.........

I agree. I would be

Posted by joepiper on 11th of Jan 2022 at 10:19 am

I agree. I would be lost in this freak market without the superb guidance from Steve and Matt. I am trading profitably with their charting.