In this post, the pullback study is investigated between trump election in last Autumn and trump rally fade in this spring. Some interesting patterns are derived and projected for this trump rally fade pullback path.
- The trump election pullback was executed by 3 down waves in the chart
- The current trump rally fade pullback has been already executed by 2 waves (not down the 2nd waves)
- The trump election pullback under the down trend line, the current trump rally fade pullback is expected under the down trend line too.
- Another interesting is the trump election pullback neckline is around 2120 (actual fractal is 2119.12), the current trump rally fade pullback's neckline is 2320 (actual fractal is 2322.25)
- The trump election high is 2193.81 close to round number 2200, the current trump rally high is 2400.98 (round number 2400)
- The trump election pullback 2nd wave low (2114.72) is 4.4 points lower than 1st wave low 2119.12. Can we derive current pullback 2nd wave low is around 2322.25-4.4 = 2317.85?
- In trump election pullback, each wave's high will hit down trend line. We expect so for the current pullback.
- 3 waves pull back and each wave will hit down trend line (2nd wave hit down trend line multiple times)
- the 2nd wave will make a faked neckline breakdown, then push up to the down trend line, so we are in 2nd wave down and need make a run up to down trend line within next 1 or 2 days, then reverse back to make the faked neckline (2320) break down, only the estimated level can be made here around 2316, then push up again to the down trend line.
- then the 3rd wave down will be much more straightforward with less zigzag actions. The downside target is a huge zone from 2240 to 2280.
- Of course, if in any stage, the index over 2350 and close above it by daily, my pattern matching study result may not work anymore.
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