This chart was posted in my comments section by Dolemite. I have attached his comments below
Thanks Dolemite.Always nice to have feedback and charts.
SNP monthly
lots of time and price coming to a crossroads recently...
1. 60 months from 2002 low gives us 2007. 60 more months gives us Oct, 2012 (yellow)
2. 10 months from July 2010 swing low to May 2011 swing high. We are currently 11 months from Oct 2011 swing low (almost 1:1 but close enough) (blue horizontal)
3. Perfect ABCD price pattern formed from those July 2010 (blue zigzag)
4. Price formed a shooting star (not textbook, but good enough for me) right at the .886 retrace of 2007high-2009low range
5. Triple RSI divergence at points 1 2 3 (orange)
Thanks Dolemite.Always nice to have feedback and charts.
SNP monthly
lots of time and price coming to a crossroads recently...
1. 60 months from 2002 low gives us 2007. 60 more months gives us Oct, 2012 (yellow)
2. 10 months from July 2010 swing low to May 2011 swing high. We are currently 11 months from Oct 2011 swing low (almost 1:1 but close enough) (blue horizontal)
3. Perfect ABCD price pattern formed from those July 2010 (blue zigzag)
4. Price formed a shooting star (not textbook, but good enough for me) right at the .886 retrace of 2007high-2009low range
5. Triple RSI divergence at points 1 2 3 (orange)
Cheers man, appreciate it.
ReplyDeleteGlad I could contribute to your site.
I've learned a lot from you this year.
Keep up the good work!