Thursday, November 3, 2011

S&P 500 channels (using ES as proxy) and Russell Long Term View

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Big Picture Russell Says This Puppy is fit to be a roasted corndog.  Green line is perfect backtest of the 2011 H&S Top, and a basic overthrow on the 61 Fibo.   Although, seems like 78% Fibo is almost obligatory these days.   Going back to 78 Fibo as a Santa Rally would also be a perfect 4% overthrow on the head and shoulders retrace, in the grand plan of deception, that is "Perfect", as it will convince the H&S watching bears that he H&S is a failed pattern, and then Lucy Pulls the Ball away from Charlie Brown, AGAIN!

ES shows great respect for the Bernoulli Channels I have drawn

Here is todays view of the Triangulation aka Pre-Stangulation

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Insightful and Useful Comment!