Loading ...The CHARTS Tell Me My Scenario Should Finish Playing Out
I did a quick check of the charts of eight or so of the top NASDAQ 100 stocks. With the exception of one(granted the most important as far as LEADING the market direction) they have not broken their recent lows from when I said we would embark on an eleven trading day range before the bear market broke down to new lows after May 11th. Unless the leadership of AMZN, which did break down yesterday, spreads quicker than it usually does, I believe my scenario will allow the chop with the slightly upward bias, to finish playing out as previously predicted.
CM where does the 11 day interval come from? What are the parameters? It’s helpful to see the method.
At the time, the charts of the market averages gave me a count of 11 days before they would finish the chop and head down again. Mostly based on symmetry at the time.