This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
I like the emphasis he gives to the Zweig Breadth Thrusts which point to what consider to a double thrust, measured move, rally off the 2009 lows. Along with the major correction that sits right in the middle, those two major thrusts, coming close to their respective lows, almost look like the "green lights" for each rally!
This chart I posted last week is one of my "similar but different" looks at that same measured move structure. http://1.bp.blogspot.com/-FE1p9Q3AotE/UkcHgp1UgoI/AAAAAAAABFY/hKgnowWL61c/s1600/spxWeekly270913.png
I didn't know what else to call it. Inverted "S" curve?
But if you take close note, the upper parabolic curve (on the second measured move) is an exact mirror of the first (on the first move off the 2009 lows), and, most importantly, the two curves join together in the middle at the exact 50% price and time points.
Here's the same chart, updated, and now color coded with Fib. and cycle draws. http://a.disquscdn.com/uploads/mediaembed/images/645/9636/original.jpg
I like the emphasis he gives to the Zweig Breadth Thrusts which point to what consider to a double thrust, measured move, rally off the 2009 lows. Along with the major correction that sits right in the middle, those two major thrusts, coming close to their respective lows, almost look like the "green lights" for each rally!
ReplyDeleteThis chart I posted last week is one of my "similar but different" looks at that same measured move structure.
http://1.bp.blogspot.com/-FE1p9Q3AotE/UkcHgp1UgoI/AAAAAAAABFY/hKgnowWL61c/s1600/spxWeekly270913.png
"mirrored parabolic curve" very neat ,HR,
ReplyDeleteYeah. :-))
DeleteI didn't know what else to call it. Inverted "S" curve?
But if you take close note, the upper parabolic curve (on the second measured move) is an exact mirror of the first (on the first move off the 2009 lows), and, most importantly, the two curves join together in the middle at the exact 50% price and time points.
Here's the same chart, updated, and now color coded with Fib. and cycle draws.
http://a.disquscdn.com/uploads/mediaembed/images/645/9636/original.jpg
That's a great chart, HR!
Delete