marketprophit

marketprophit

By the time we recognize a pattern, it's normally too late to take action on it. Despite that, here's what has been developing.

marketprophit

SPX ballooned last year and went above the channel. That was way above the mean. It is now getting closer to the mean. Normally, we would go below the mean until we can find a/the trend.

marketprophit Updated 

Looking for a potential reversal at the logical levels indicated. I will look for confirmation. Small shares only as the equities are breaking down against bonds.

marketprophit

In March, QQQ went from Fib Pivot, let's call it FP for short, to FS1 and by the end of the month went back up to FR1 pivot. This month it's logical to see a higher low at Fib Pivot for Apr. This area is also the 0.618 retracement of that move in March. In addition, this is coinciding with the rising 50D SMA (not shown). The odds of holding here is higher as a...