Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : E-Mini Pit -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (7601)	10/21/2002 8:46:59 PM
From: the-phoenix	Read Replies (3) \| Respond to of 11288

Bearish Three Drives Pattern All the gaps over the past week or so have been obscuring a nice, symmetric Bearish Three Drives pattern that is evident in the Nasdaq 100 futures all sessions chart: ttrader.com The symmetry in time and price is actually quite nice. The Three Drives pattern is characterized by three buying waves of roughly equal magnitude, with specific and equal fibonacci retracements and expansions at each wave. The pattern appears to have completed today at 983 in the NQ at the 1.382 expansion of the CD leg and also the 1.382 of the XA leg. We also have equal move resistance, with the BC leg equal to the DE leg at 983. On a larger timeframe, to confirm the Harmonic resistance at this level, we hit the .707 retrace (sq rt of .50) of the August - October selloff on NDX at 977 (close 979). The last time I saw this pattern? August 22nd: Message 17905662 The market topped within 7 points of that target. Yes, in fact, the last Bear Market Rally ended in exactly this same fashion. Phoenix