DE Bearish Gartley Daily

DAILY BEARISH GARTLEY in Deere (DE) http://harmonicanalyzer.com/share/de-0217-1437.png

HarmonicTraderUSA Restart

I want to thank David Maxson for his contribution.  We are restarting the blog and will focus on all markets related to the USA, including indices, stocks and dollar-based currencies.

EURUSD ABCD

Here is a weekly chart of the eurusd. There is an ABCD at a 1.272 extension, with both trendline, and double bottom support. We are also at the 2.00 extension of May 2011 highs to July 2011 lows which could possibly setup a bearish 5-0 pattern. This trade has a low risk compared to the potential reward. If that double bottom and trendline are broken and eurusd fails to get back above on a retest, we will likely go down to the 1.414 extension next.

BAC Bullish BAT

Here is a monthly chart of Bank of America. A bullish bat completed at .886 retracement of X to A leg, AB projection 1.618, and BC projection at 2.24. There was a retracement prior to the 50% level, so the 1.13 would be an extended bat at $0.65 and has confluence at 3.14 projection of AB.

S&P 500 Futures Near-Term Targets

I am looking for the 1428 level to be tested and also around the 1000 level. The bullish bat would complete around the 1000 level and there is also an .886 ratio of a larger pattern at 1428.

S&P 500 Futures Extended Bat with ABCD

Here is a daily chart of the S&P Futures. There is an extended Bat pattern that completes at none other than 1000. There is a nice ABCD pattern as well which completes at the same level. This level would still keep the bearish pattern to the upside intact. I would then look to a shark pattern to new highs. Please note the March 2009 low was 666 on the ES.

Soybeans Bearish Butterfly Setup

Here is a monthly chart of soybeans with a potential bearish butterfly setup completing around 1900. The fib confluence is great and it has an ABCD into the 1.272 extension. The AB extension is at 1.618 and the BC extension at 2.24.

Possible S&P Futures Butterfly Pattern

Here is a possible bearish butterfly setup forming on the S&P 500 Futures which would complete at around 1428 area. Wouldn’t  be surprised to see a spike down first. The charts seem as if they have been carefully crafted in such a way :). There are good patterns working both ways on most charts. It will depend on whether or not the banksters get stuck paying for the Credit Default Swaps or if the FED will once again come to the rescue.

AUDUSD Bearish Butterfly

This setup on AUDUSD daily chart has a bearish butterfly that completes at a .707 retracement which was the same level the previous swing reversed from. The AUDUSD ran up 1000 pips off a nice bullish butterfly. Will be interesting to see if this is the start of wave 3 on the downside, or we make a C point for an attack on the 1.10 highs.

Crude Oil

There is a Bullish Bat that completes around $71, but I do see the potential for a move up to much higher prices should the low of last week hold (more on this should it hold). Oil rigs were shut down in the Gulf due to the tropical storm which made landfall in Louisiana.