Thursday, May 8, 2014

Ending Diagonals in Stocks?

Is see the DJIA and S&P indices appear to be tracing out ending diagonal patterns, after which the normal expectation would be a sharp reversal to the downside. For example, posted below is a chart of the ES Mini futures 30 minute chart showing the presumed ending diagonal pattern. There was also an ending diagonal in the 3rd wave position of the larger diagonal shown on the chart, which appears to be a larger fractal of the smaller diagonal. Whatever the pattern is it should end fairly soon and no later than around 5/20/14 I would think.

Kim Rice 5/8/14

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