Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: techtrader73 who wrote (114375)	11/21/2018 5:48:11 AM
From: GROUND ZERO™	1 Recommendation Recommended By Ms. Baby Boomer Read Replies (1) of 220077

Here are two SP futures charts, a daily and a weekly below the daily... We can see what appears to be a HS pattern just now completed... the question remains as to whether or not the neckline will give way or if we bounce above the right shoulder and nullify the HS pattern... If this neckline breaks, then a measured move downward would be to about 2191.50 which is also the high for the week of August 22, 2016... Considering the DOW quarterly chart connecting the 1987 and 2000 highs (seen below the weekly chart) the odds appear to suggest that this neckline may give way to further selling... we'll see soon enough... GZ

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