4 replies to this topic

[rkd80]

There are some interestest complex HnS patterns which are so far playing out perfectly. This gap up actually makes sense in the context of the pattern. I showed you the OEX yesterday and that will hang on a little longer. It will be a pop - very slight pullback - try again - then sell off.

But here is a RUT chart of the same time-frame. This thing looks like a mirror image, the symmetry is amazing.

http://stockcharts.com/h-sc/ui?s=$RUT...0&listNum=4

Additionally, observe the downward skew of the entire pattern, it may not be 100% significant, but something worth paying attention to. Rut *should* open up and go to about 842 and then sell off quickly.

[Russ]

The full stochastics on your chart is just turning positive at the bottom of it range...looks somewhat bullish.

[rkd80]

The full stochastics on your chart is just turning positive at the bottom of it range...looks somewhat bullish.

I can't even make out the Full STO on that one but it looks that it could go either way. I think it's striking that the STO never reset, but came quite a bit down despite a marginal move in the $RUT. Besides, this gap up can shoot it into overbought territory in a heartbeat. the CCI is diverging too.

In terms of momentum oscillators, $oex looks better off for a sell, but if you look at the pattern...seems like it might take longer to form.

http://stockcharts.com/h-sc/ui?s=$OEX...4&listNum=4


BBB calling for a 200+ point move is scary tho.

[Russ]

http://stockcharts.com/c-sc/sc?s=$RUT&p=D&yr=0&mn=3&dy=0&i=p68521479121&r=1605.png

[rkd80]

http://stockcharts.com/c-sc/sc?s=$RUT&p=D&yr=0&mn=3&dy=0&i=p68521479121&r=1605.png

sigh, so much for that pattern.