I commence with my gratitude to The Creator
Stock Markets are falling hard in the hours after the opening bells at Wall Street, only to recover bulk of losses back before the close of the day. Based upon my years around the stock markets, this kind of markets’ behavior, is indicative of Markets attempt to finding their next direction. No matter what direction markets decide to go, we are going to see lot more of the similar volatility in coming next months.
However, there are some interesting patterns being developed within three markets indices, namely Russell 2000, AMEX Composite Index, and NYSE Composite Index. All of them, are unfolding a H&S Pattern.
Upon successful completion of H&S pattern of Russell-2000, it shall fall and the support are likely to occur at these levels of $76.66, $74.50, $73.40.
Please remember the time cycle as stated in my previous post, are important to watch within next 3 weeks. Important dates are 05/14***, 05/17-18, 05/28 and then a BIG DAY shall be between June 04-06, and JUNE 18. Markets shall find turns on or about said dates.
http://trade-in-harmony.blogspot.com/
My projection shows a one week counter-rally before the markets turn down again. It fits with your important dates May 17/18.
Peter