The following chart was posted on February 24,2016
Link http://justsignals.blogspot.com/2016/02/chart-spy-240min.html
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| Courtesy of eSignal |
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Note that JustSignals said on Feb 24,2016, "The green circles indicate where this pattern "may" be expected to happen again.
A break of the blue trend line & a price bar change from blue to red must occur for this pattern to repeat !"
The following chart is an Updated chart of the SPY 240min
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| Courtesy of eSignal |
In the chart above the green circles were repeated from the first chart. As you can see the market did rally from that point as expected, but, the price bar did not go below the blue trend line,
not yet. The Blue price bars did not turn red either,
not yet.
JustSignals will be watching this chart as price moves closer to the Blue circles. A break of the blue trend line and the price bar change in color from blue to red, in addition to a sell signal cross over in the bottom window, will indicate that a move down into the next Picasso turn date might be starting.
Below is:
Picasso's dates from the February 21,2016 post:
2/22H
2/25-28L
3/1-2H ---> new dates, change to 2/26 to 3/2H
3/15L
Again, if Picasso can be of any help here, the SPY "may" become OB in the 3/1-2
+/- time frame and then a pull back might be expected into the 3/15
+/- time frame.
So far, since the last post on Feb 24th with the SPY 240min chart and when Picasso's dates were first discussed on Feb 21st, the market has been in sync with the discussions in both posts.
Since this coming week is in the time frame of the next turn date, watch your indicators carefully for confirmation of a turn. The next Picasso date is for a 3/15L +/-.
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This
has been posted for Educational Purposes Only. Do your own work and
consult with Professionals before making any investment decisions.
Past performance is not indicative of future results
