Friday, March 21, 2014

Charts 03-21 a.m.: Wish I had posted this last night

Had a thing on the curriculum last night at our elementary school, and some work after.

Today has a very real potential to complete an ending-diagonal triangle.  Up to you to figure out if it is significant or not.  Gap up, gap fill, and a steady rally into the close would do it.

I sketched this yesterday while considering the scenario.  Bradley turn this weekend, BTW, if you believe in such things.

SPX into March opex


EDIT -- one more quick count, larger degree.  This would be one of those broadening wedge tops.

SPX expanding wedge?

6 comments:

christiangustafson said...

No late rally, but we did get a very nice intraday reversal candle, and 1884 would be close enough for a top in this.

Trading Sunset said...

1750 early April ?

What a thought, it'd then offer a larger H/S formation, although I'm sure you are aware of that.
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Need to break <1830, and then door is open to 1770/50 - its difficult now, since lower weekly bollinger is support in the 1760s.

Bryan Franco said...

I like the ring of March 21st 2014 for the history books. Today was a classic long trapper. Hopefully this holds for more than a day, week, month, year. 3 and 21 are fibonacci numbers too.

Trading Sunset said...

At least 'hope' doesn't cost any money, although someone out there is wondering how to monetise it.
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A spring high, yes..but maybe not until next month, the 1925/50 zone would make sense.

I see a lot of people talking about the 1940s, I guess there is some kinda fib' level or something there.

Unknown said...

Are terms "inflation" "deflation" content-free like "freedom"? Thanks.

T.Berry said...

on board with bicycle and the trip to 2200+. continuing to add longs on pullbacks. 70% long