Followers

Blog Archive

Disclaimer

Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Saturday, December 27, 2014

Humblestudent membership Dec 26, 2014 Weekend Report

$spx is reaching the red backbone line with record high.

Two (F.IHS) scenarios presented below.
First, the primary reference pattern, the situation could be similar to the historical pattern as pink circle indicated.
With the pink circle historical pattern, $spx made new uptrend high with 20 points (green) above the previous uptrend high, then had a 33 points (red) correction that matched the size of the left shoulder, and then rallied to make another 8 points (blue) new uptrend high to conclude the pattern, and then started the down trend.
Here, so far $spx made new uptrend high with 13 points (green) from the previous uptrend high. After current uptrend completed, should have a correction, possibly matched the size of the left shoulder, and then moves up to conclude current uptrend.

Second, the alternate reference pattern, as the purple circle shown.