Fractal Patterns: Gary Dean
Below are a number of fractal pattern charts that have popped up. They don’t have to follow them exactly, but may mimic them. So instead of a crash, we may get a “sharp drop” that could account for many s&p points from these levels. I have said that from where we are right now, the risk/reward is skewed here for the bulls. Woody mentioned the May lows being important, which happens to be the 2720 level I have had for a downside target. Maybe we get there? Look at the charts below and you will see what I am talking about. We have the SAME patterns forming now and we will find out soon enough if they follow a similar path.
07/23/20: The bearish wedge on the 60 minute chart is still in play and the bearish divergences continue to expand. But until the bears can get price below 3235, the bulls will hang around. Once they do succeed, we should see a quick reaction trade down to the 3155 support. The wedge pattern is looking at 3000 as a downside target.
Information is for paid subscribers & may not be copied or distributed. © Copyright 2020. The information contained herein was provided by Sentiment Timing and/or its publishers does not make any representation or warrant with regard hereto, including but not limited to those of accuracy, completeness, reliability, timeliness and/or infringement on the rights of third parties. This Publication expresses a view on the markets but is not intended to provide any specific recommendation to buy or sell any security. Investing is Uncertain and always carries Risk. Of Losses. Subscribers should always assess Market Risk parameters with their broker or financial adviser.
Information is for paid customers and may not be copied or distributed Copyright 2020