The Pan Flute Pattern $SPX $SPY $QQQ $DJIA

August 14, 2012

The pattern is valid only on heikin-ashi charts and is associated with a very tight coil.

Like any other pattern it requires a confirmation although haDelta (the canary in the mine shaft) points to a bullish development.

Same pattern appears on $DJIA and $QQQ daily charts.

The Pan Flute Pattern $SPX $SPY $QQQ $DJIA  8/13/2012

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