Pretzel chart review with his interpretation comments as of April 25 early a.m. -
investorshub.advfn.com
* courtesy of RCKS at IH
".....the mid-3700s target zone from April 8 helps clear the noise."
pretzelcharts.com
"On Friday, SPX captured Target 1 -- in after-hours trade, it then kept going. In overnight trade, it captured the cash equivalent of Target 2.
Let's start with the intermediate term, because this projection is something of an "all roads lead to this." In other words, while the market has a number of options over the near-term, the only thing that can kick this off the table is a new all-time-high."
"Intermediate term patterns are generally much easier to predict than day-by-day patterns, as the market always has a million and one ways to get where it's eventually going. So if you're confused by the near-term options below, then just refer back to the chart above for clarity.
First up, the used-to-be-alternate count:"
"Next, the near-term chart that shows the diagonal still in play (for now, meaning as of Sunday night when I drew the chart and am writing this), and since the e-mini futures have captured Target 2 in overnight trade, I added targets 3/4 in the event SPX sustains trade below T2:"
In conclusion, while there are still numerous options for the near term, the intermediate term chart and the mid-3700s target zone from April 8 helps clear the noise. Trade safe. |
