Horvat $
A day or two ago, there was a post asking whether $ had made double bottom.
I quipped, in the comments, that anyone applying EW would immediately reason … probably not.
I didn’t elaborate at the time, because I didn’t have a chart handy.
Today I do, thanks to Gregor.
I’ll just add here … that there is often a lot of hand wringing and vacillation by those using chartology, based on patterns that look plausible. Lots of could be’s out there, folks.
My “4D” charting is hard to spell out, but I can often pick out the valid EW counts using it. This was one such case.
And its why GDX and dollar sensitive stuff (including SPX, probably) just began their bounces a short time ago.
Should be good for at least a couple of weeks.
Then … it will helmet time again. Or bomb shelter perhaps.
Thanks pedro – this is helpful.
Italian elections should give euro some direction next week, young generation tired of crap and may vote in new blood which wants to leave the euro experiment.