TRAN's Evening Star Candle Stick pattern in weekly chart give a profitable SELL Signal . Weekly MACD's and RSI's SELL Signal are profitable too . INDU's and TRAN's Head and Shoulders pattern Necklines are broken :eek: . The last support before people get panic is April 2010's high . Front-load weekly MA(50)s lend some support. Running Triangular Corrections morph into Double Zigzags Correction. Expect rebound from present support , or from Big "M" ahd sHs targets or 2nd Zigzag measured move or April 2010's highs . Wave IV)C3] targets will be discuss after April 2010's highs are broken .
Smaller Fractals do predict Larger Fractals . A mini-crash after the Necklines are broken . Most indices are near some sorts of supports . Note fibonacci 8 DOWN days .
Dow and SPX drops 1000 and 100 in 9 days without significant rebound :eek: . There should be a 3-days rebound soon . Note: Parabolic fall and increase volume = Selling Climax?
from a bull perspective..... if the weekly low is not broken this pullback still qualifies as a perfect abc pullback in an ongoing up trend.
At last Hammers everywhere . Wave 4] is a Double Zigzag, with Wave 4]c) also a Double Zigzag. Better late than never It was a big comeback for the market, where the Dow had been down as much as 166 points earlier in the session. Investors found some solace in upbeat comments from Fed governors Donald Kohn, Vincent Reinhart and Brian Madigan, who told the Wall Street Journal that the Fed may consider another round of stimulus. "It looks like all bets are back on that we will get some form of additional stimulus, possibility a QE3," said Peter Cardillo, chief market economy with Rockwell Global Capital. http://money.cnn.com/2011/08/03/markets/markets_newyork/index.htm