[m4573r]

hi, i'm a newbie ...
i found interesting pattern on DJIA chart.
please comment ...

more about butterfly pattern :
http://www.harmonictrader.com/price_patternsbfly.htm

regards,

[TinGull]

I'd never heard of that particular pattern before, but what you've outlined isn't consistent with what is outlined on the site you gave for a bearish "butterfly" pattern. You've still got higher highs and higher lows here. If there was a confirmed break of the CURRENT price level (as it has just now come down to a support area) then I would be bearish. I'm currently still long these markets, though.

[brownsfan019]

How about we just call it a red spinning top at resistance?





Much easier to see in my opinion.

[james_gsx]

I see a three dimensional triangle, not a butterfly

On a serious note, what kind of technical targets are possible with a pattern like this?

[Lewmer]

Well, support is broken now, so can anyone shed light on james gsx question above?