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Charts 2-22-09


3 hours into Globex open


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61.8% retrace to the tick of the down leg since Thu high of 797.00

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Bearish Gartley?


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yes LA...Gartley and the confluence zone was hit. Above is Bullish Crab on 5m.


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Sorry my retracement was drawn in reverse. It is short of 1 tick to 61.8% retrace.
If you were short since 0520 to 0530, you have made a lot.

Really weak market. Really FUBAR.



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Here is how this Bearish Gartley from the above post has played out so far. I have also included the current wave count from this chart period (1 1/2 point range). The count is unusually clean and easy to spot.

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Biggest loser last night as I tried to look for that long. -18. PT got crushed too. The winners are those who didn't take the trade. The biggest winner is palmer at +17. He went short I think.

The bottom didn't come and maybe it did at pit close.

Could we be seeing another bearish Gartley pattern coming up? Looks like a new X-A leg. How much retrace are we looking at to form B?