LIVE Harmonic Trading Saturday Strategy Session
Join me today @ 12pm Eastern for our monthly LIVE Harmonic Trading Saturday Strategy Session.
The Saturday Strategy Session is open to all members to join in an intense discussion of opportunities in the market and to learn specific strategy tips. Today, we will look at “The Sequence of Confirmation in Harmonic Patterns” to identify specific situational opportunities in the Potential Reversal Zone (PRZ).
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Final Harmonic Thoughts
After a few rather chaotic weeks, the indices closed rather strong Friday on the hopes that things would start to get back to normal sooner than later. The NASDAQ 100, S&P 500 and the Dow 30 managed to close at their upside objectives at 8900, 2800 and 23,800, respectively. Although the fundamental landscape seems apocalyptic, the market has been able to continue to recover more than half of its losses from February. This is remarkable in the face of yet another historic financial crisis unfolding. How can the markets be surging?
This is a topical discussion I would rather not engage in, especially since it is outside the realm of harmonic patterns. I want to stick to the measurements. However, I will note that unprecedented actions have been taken by the U.S. Treasury (formerly known as the Federal Reserve) whom have essentially added nearly 50% to the overall balance sheet in recent weeks and it has doubled in the past 18 months. What does this mean?
For most, they do not understand but for traders all we really need to know is that much more money is being pushed into circulation that will try to float prices. Although this is more of a general assessment, I must admit that global financial operations at the moment are unprecedented. In these times of uncertainty, it is essential to focus on the big measured harmonic levels and the price action therein to truly gauge valid possibilities.
We will talk about this in today’s session and look at the long-term levels when Saturday’s Strategy Session returns at 12pm Eastern. See you there!
Great Harmonic Trading to You,
The Harmonic Trader Team