New Moon Highs - Missing Wave G - Inverted H&S
December highs still not violated which supports the wave f case.
Wave f should be completing here right on schedule in this 18-20 TD day New Moon window...
Alot of traders (including myself) are watching what looks like an inverted H&S pattern from November. I dont think its valid because volume of a large number of Dow stocks of the last 5 days has trailed off. Here is CAT for example....
Low volume tells me people may not be convinced of this weeks rally...
Wave f should be completing here right on schedule in this 18-20 TD day New Moon window...
Alot of traders (including myself) are watching what looks like an inverted H&S pattern from November. I dont think its valid because volume of a large number of Dow stocks of the last 5 days has trailed off. Here is CAT for example....
Low volume tells me people may not be convinced of this weeks rally...
posted by chartblog at
6:57 PM
2 Comments:
Fwiw, the follow signals also failed to validate the "rally" in SPX:
- Hi Vol/Low Vol ratio fell
- SML Index / INDU Index ratio fell
- TRAN Index / SPX Index ratio fell
New Moons more often post highs on the open of the first trading day after they occur.
thanks!
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