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Worth to read
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QQQQ, 3.618 wave size reached + 86.2% resistance, cautions ahead,
market geometry
Tomorrow or next days and week could come slightly gracy, we reached 86.2 which most often is max for B wave. Market is pretty heavily overbought, but surprizingly there is some stocks which are with inverse like ATT (T) which just started to respond 3 days ago for it´s ending diagonal plus later its contracting triangle. However, cautions needed with index. This flat might hit some day 100% flat for us, but odds to go throw 0.862 is very risky.
Firstly there is 3.618 wave now from the bottom placed which should mean best leg is over and most often it is size of W3 (Y). To mark these impulse in these days does not help so much as entire flat picture is more open question what this market is building but some flat scenario is likely more close of true. The way it is marked in the chart is how harmony pinpoints all end of W3´s out starting it from W1 top which differs from EW world, but just slightly.Additionally there is 1.127 relation from this 3.618 top marked now, in harmony world this is very powerfull fibonacci relation when dealing with reversals, but much less used in EW world which is little bit surprizing since most turns have this relation. Perhaps one 1.618 is needed for daily chart from 3.618 to fullfill fifth (marked to the chart), some day but for now this smells like a shorting setup.Overall, entire upmovement has looked alike double or triple zigzag all the way from the bottom, it was same story with eurodollar and still does. Sure, there is still room if XX or ZZ comes to picture some day but 3.618 size wave does smell like something is going to end in here reasonable near future.
Got bored for that MSFT also, it is way too flat and up just slightly or hardly, let´s see if this market drops and corrects first something down, SPX last hour candles at least looked promising. Should post that T originally, at least contracting triangles gives "boost" for individual assetts.
What makes this picture even more complex is that most currencies have completely own life not related for stockmarket anymore. They allmost work as inverse with it. It seems that financial chrisis part II is mostly presented between states and national economies more than with stocks.
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Microsoft, MSFT
market geometry
This is actually my pessimistic scenario for microsoft and target is calculated for only ABC upside corrective (but it is good to stay with more concervative approach).If my count in the lower chart is correct as I believe it is, we might see W3 non-expansion target goes for 31 $, that´s before any fifth wave in it, but even without this should lead reasonable agressive C wave from here.
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EurUsd, ending diagonal triangle, 240 min, UsdJpy and SPX
market geometry
Perhaps this diagonal pattern starts to be somewhat ready, it does have 9 boundary touches now. One breake allready, re-test with some kind of failure with line, but because it is eurodollar it is never going to give anything too easy. Should be on the way to test 38.2% at least from this reasonable big drop which tested daily chart 61.8% retracement 3 times before market started to respond for any reversal calls.Usd-Jpy have also 240 min bullish gartley position indicating yen crosses bottom has been placed. For the reason or another I don´t like this pattern in here, the movement inside of the pattern are not something I had used to see.SPX had yesterday contracting triangle and market responded for that.Next week is going to be interesting with eurodollar because this price should not subdive anymore inside to the pattern, it should start taking larger ABC corrective upmovement at least or then impulsive like SPX does.Additonally have to attatch this SPX cont. triangle chart, it is beauty. It prints first one as wrong because B wave of cource have to have previous impulse wave behind of it but second one is beauty. It needs slightly more brainwork how to close those odd versions off where it takes entire chart to build it as one triangle. Attatched also usd--jpy gartley, it is reasonable good pattern, but also needs manual check. Harmony approach is generally too cosmetic approach since it does not check what´s inside of those triangles at all by wave point of view. It is looking them only as outside projections.
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