On your 15-min S&P, we got an inverse
H&S pattern and a bullish Gartley 222 harmonic pattern (starting point
11/21/2008). The bulls should be in control now…
From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Pete Lieber
Sent: Saturday, December 06, 2008
10:23 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: [RT] Can the Market Avoid
Another Monday Slump?
As evidenced by the first chart, SP500 15-minute, the past three
Monday's have not been kind to the market. In each instance the market
has rallied to the 896-917 level and has fallen away. The second chart,
SP-500 5-minute, provides a close-up view of the first level of resistance –
last Friday’s (11/28) closing bar, weekly-high of 895.76. As you can see,
this week’s closing bar also provides the high of the week (879.22).