Monday, October 4, 2010

Dow is a textbook bearish Gartley

Very creepy how mechanical the Dow futures is being with regards to this bearish Gartley pattern which appears to have completed at point D.  The AB leg is almost symmetric to the CD leg in both price (1168 points versus 924 points) AND time (28 days rally to peak at B opposed to 25 day rally to peak at D).

Compare the above chart to where the actual peak is at D to the rough estimate I did weeks ago where I simply projected forwards in price and time via symmetry with the white solid chalk lines:
Looking for 10840 on Dow Futures by End of September 2010