Charting the October 2014 pattern of this pair, do we repeat, consolidate in the box and then upward yet again (and again, and again) or follow the arc moon theory pattern, or take its own path? They are similar to this point. Factors indicate to me that we follow the arc , and SPY and markets world wide go with this pattern , whichever path it takes.
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IvanLabrie
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Down with S&P.
If you analyze the time to move % distance, this is the sharpest leg down since the bottom. This indicates this is not part of the same structure, but of a new and steeper downtrend.
claydoctor
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I agree, and I assumed that too, but just posting because I heard some talk of this comparison. I always try to see the other point of view to see if it confirms my own, or not. Tuesday china numbers, and friday's employment report should be the movers this week. And if both do not support the downtrend, then consolidation may result. I suspect china will disappoint, and if employment is strong, and based on jackson hole comments saturday for raising rates in sept, that should turn us downward, following the arc theory. BUT, you never know. I also read something about a possible chins financial systemic meltdown, which I give more credit to being right. They are so good at covering up bad news, controlling media, but if that becomes known in the world trade, then it will be very bad, for us all. That could be the thing that tips the scales here into world wide recession, effecting the OIL markets into the 30's. Just have to keep an ear to the train tracks, and finger on the buy/sell button.
If you analyze the time to move % distance, this is the sharpest leg down since the bottom. This indicates this is not part of the same structure, but of a new and steeper downtrend.