Pattern Updates

Over the past week, the Dow and NDX have continued forming points on their projected patterns. The NDX appears to have formed a triangle over the past week. That triangle also formed points 15-20 of the smaller Three Peaks Domed House pattern.

NDX three peaks domed house updated sept 2014

It looks like the NDX made an upside breakout from the triangle late Thursday which should cause a continued burst higher over the next few days. Here is a chart showing both TPDH patterns underway:

Three Peaks Domed House 2014 NDX updated Sept. 11

A couple weeks ago, I mentioned a double zigzag pattern on the Dow and expected the Dow to have a pronounced drop to a point above the 8/7 low before the final rally. I think the Dow has just completed an equivalent phase although it was a sideways period instead of a sharp drop.

Dow updated sept 2014

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