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Tuesday, December 10, 2013


Nothing has changed since my last post about 3 weeks ago.  Until the market strays from this fork and breaks volume support the trend will be up.  Volume support can be found by referencing the Volume Profile.

The blue upward fork is a wide expectation, but the market appears to be following the harmonic proportions withing the fork.  The dashed lines indicate +/- 50%.  In the past I examined the possibilities of using Fibonacci ratios, but the method is not really that accurate.   Even the forks require some adjustment now and then but the general limits of the trend are usually pretty accurate

Even the limits of this yellow channel are being pushed.  The stochastic also indicate that this move it beyond the norm.
The white line below the channel is the bottom of the Andrews Pitchfork with the yellow channel being the top portion of the fork.  Kinda puts things in perspective doesn't it?  What a ride.

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