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On Friday we had a Thrust Reversal in the SPX
The Thrust Reversal is a Wyckoff pattern which consists of 1) a prior pivot
high, 2) an up-thrust bar which begins below the pivot line and closes
above the pivot line, 3) there may be several additional bars all of which
remain above the pivot line and close above the pivot line, and 4) a down-thrust
bar which begins above the pivot line, takes out the low of the up-thrust bar,
and closes below the pivot line.
Attached chart shows all 5 Thrust Reversals since December 2004. The
smallest decline was 35 handles and the largest was 67. The shortest non-stop
decline was 23 handles.
Earl
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