"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, July 17, 2009

Mega fun

Hey, it is Friday and I am going to unwind a bit and lighten up. No more posts from the droll side until next week. In fact, this may be the last chart before I get to work on NFTRH42. It throws the old reverse symmetrical triangle pattern into the mix for the SPY.

Now, a sym-tri is... Beuller? A continuation pattern, right. A reverse sym-tri is a... REVERSAL pattern. Comes after a rise, the reversal is down. Comes after a decline, da opposite. Let's see how these babies develop.