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Strategies & Market Trends : Humble1 and Swing Trading Friends -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (17597)	1/31/2015 12:52:47 PM
From: bearshark	Read Replies (1) \| Respond to of 41041

Any new high would defeat the patterns. There are no 5c's and the rounding top would be deflated (there's that word again). All chart patterns can fail. Some of the most quoted patterns carry a 60 percent success rate. That barely beats the odds. However, this current combination of patterns is so ugly that one must be aware of them. It wouldn't surprise me a bit if Monday brought a 500 point INDU drop and a 50 point SPX drop on any bad news. On Friday, the markets were being held up by Visa. The YM futures were way down and the INDU was close to turning around and the SPX was barely up. I checked and V was up 18. Finally, the INDU closed down 253 and V (up nearly 7) was the only component up. Although oil was up strongly--XOM and CVX were down but closer to flat. I assume V is in the SPX.