I have analysed the 4 hour Stoch RSI and MACD. My last idea was great, but Stoch RSI shape was a "W" not "M" hence market went down. I did not spot it. I have subsequently made an interesting pattern discovery with timing potential. I have marked areas in grey. In the first two grey areas the MACD bars had been making peaks and the market going up. This time the market is making troughs so the maerket if it repeats pattern should be going down further till at least 1 hour before Wall Street closes tommorow. Whether it continues down or reverses after that I do not know. A stop between 11039 and 11311 may be worth a punt going short (how I creat the red horizontals in the Stoch RSI and how I create the hearts and squares in the MACD I've mentioned in previous postings. I may publish twice to show better current detail. I'm publishing a close up version as well so that you can see better.
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WOW have we done well !!!!!!! You may have noticed that there is one more 4 hour bar left right at the edge of the box. On the last two occassions that bar made higher highs and the MACD and Stoch kept heading in the same direction. Hum. With the one but last bar having done so well is it worth the punt for say a double bottom ? My lowest low is going to be $9,250 the next diagonal line below the box. This analysis does not go further than the grey box time cut off, and I'm not predicting that the next bar will break a new low. Is there still potential for a massive reverse H & S?