What Happens when Bearish Harmonic Crabs and Cyphers Meet ??
Of all the major 11 S&P sub-sectors, the Health care (XLV) seems the most technically vunerable. (see insert)
Herein we have a well formed Gartley pattern waiting to roll over.
Drilling down to the major holdings of this index, AbbVie Inc. (ABBV) also looks the most vulnerable and ready to roll over,
I see two cypher patterns and one crab terminating. That said, latter is under-formed and I would like to see this crab in waiting terminate in the low $170's to short or exit a long position.
Also the Cypher patterns sometimes turn into Sharks... another eventuality that may happen.
Additionally my momentum indicator in the lower panel needs to decisively roll over.
So we need more pieces in place.
Lots of volatility this week, the Fed, Oil and probably the beginning of holiday constricted trade,
I will advise of a position taken.
Not Investment advice, do your own due diligence and respect overall broad markets and trends,
S.
Of all the major 11 S&P sub-sectors, the Health care (XLV) seems the most technically vunerable. (see insert)
Herein we have a well formed Gartley pattern waiting to roll over.
Drilling down to the major holdings of this index, AbbVie Inc. (ABBV) also looks the most vulnerable and ready to roll over,
I see two cypher patterns and one crab terminating. That said, latter is under-formed and I would like to see this crab in waiting terminate in the low $170's to short or exit a long position.
Also the Cypher patterns sometimes turn into Sharks... another eventuality that may happen.
Additionally my momentum indicator in the lower panel needs to decisively roll over.
So we need more pieces in place.
Lots of volatility this week, the Fed, Oil and probably the beginning of holiday constricted trade,
I will advise of a position taken.
Not Investment advice, do your own due diligence and respect overall broad markets and trends,
S.
Comment:
An update...
