DOW
I have no idea what to make of these:
1) Index is looking dangerously like it's going to be making a measured move down to around 6822
2) That said, it looks like it could break out of the downsloping channel on the upside
3) An Inverted Scallop is taking shape, and if completed, could send DOW up to around 9650 to 9700
4) But...wait...is that a Triple Top in the making???
5) Indicators are all pointing to the index going south
Having said all the above, I'm still IMAGINING that a Diamond Bottom is in the making, and DOW is going to break out of it on the UPSIDE. Hey, everyone's entitled to HOPE....
SPX
DOW's twin...
NDX
Bear Flag plus Partial Rise.
Disastrous.
RUT
If I really want to get calculative, RUT is at least making higher peaks and higher valleys within the upsloping channel.
But Partial Rise looks set to ruin my bullish dream.
Sigh.
TF 30min
Bullish Picture:
TF makes a measured move up to red dotted line (477), then pulls back to blue dotted line (470), bounces up from there towards red solid line (485), then pulls back to red dotted line (477) before going for 495.9.
Ok, that's crap
CLOSER TO REALITY:
TF either:
1) makes a measured move up to red dotted line (477), then reverses, and tumbles all the way to black solid line at 444 (in Cantonese - a chinese dialect, and D's mother tongue - it's pronounced DIE, DIE, DIE - not exactly, but very, very close), or
2) fails to make another close above blue dotted line (470), and tumbles all the way to black solid line at 444.
TF 3min
Ascending Broadening Formation housing a Partial Rise.
SIGH.
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