SP500 Completing the Arc into Target Levels

Jan 6, 2015: 11:24 AM CST

I’ve been highlighting this “Arc” or “Mirror Image” Pattern in the S&P 500 and US Stock market to members as it developed, but let’s take a look at the pattern as it nears completion.

Here’s the S&P 500 “Arc” or “Mirror Image Foldback” Pattern in currently motion:

A “Mirror Image Foldback” Price Pattern is a lesser-known event where a clear symmetrical image develops.

It looks like an “arc” or a rise on the left side of the grid with a similar fall on the right side of the grid.

In other words, the “future projection” on the right (which has almost completed) will be very similar to the preceding pathway on the left.

Like anything, if you want clues to the future, simply look to the past.

The focal point now will be where the market bounced off the 2,015 level, though we currently trade under the pivot support.

A failure to hold this level simply suggests a fall down further toward 2,000 (psychological target) and perhaps the 1,980 level.

Develop your trades based on the support or breakdown (failure) of this level.

We can see a similar Foldback Pattern in all four US Equity Indexes (seen using Futures Contracts):

The Foldback Pattern – a pathway to the future directly from the past – doesn’t occur often, so be sure to use this current example as a key reference for the set-up and follow-through of the event.

Afraid to Trade Premium Content and Membership

Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


3 Responses to “SP500 Completing the Arc into Target Levels”

  1. calcolo mutuo alla francese Says:

    hello! , I love your crafting consequently a great deal! quantity we all keep up a correspondence additional approximately a person’s write-up upon AOL? I want an experienced within this property to fix my difficulty calcolo mutuo alla francese. Could be which is an individual! Having a look toward assist you to.

  2. Richardson Says:

    It is definitely reaching a massive target level which we can take great use but at the same time we need to be very careful and don’t try to over react as there can be correction. I mostly take advice from my broker OctaFX as they have highly educated, experience and professional team of traders which keeps eye on the market and then daily provide us with their analysis and so far fantastic results I have achieved following it for past months.

  3. Rony Says:

    In my view trading with following patterns can be seriously profitable, but at the same time we need to make sure we are working with careful approach, it’s the only way we will get success. I love this site since they do this job for me pretty easily and that’s why I follow it regularly. Also, I am confirming it twice with additional help from OctaFX given their lovely news and analysis facility, it is very easy and simple to follow yet it is very powerful.