SPYing and Catching a Shark

• Posted by Greg Harmon
• on February 28th, 2014

After a tear higher in the first 30 minutes of the day the SPDR S&P 500, $SPY, seemed to flounder until 1:40pm. Then the dam burst and the selling began. On a closer view the price action had traced out a bullish Shark harmonic that became recognizable when it broke the previous low at 2:35pm. This offered a great opportunity to study a harmonic pattern in action. My stream below shows it playing out and the posts are translated to the chart.

With the book launch it is time for a sale. And later this weekend it will tie in with the book. Stay tuned!

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