there has been a lot of "struggling"price action to try and overcome the February high. On Tuesday the market broke the bullish rising 2x1 angle when time had squared price by 50% (305 points/153 days). Since then we have had 3 inside days so the direction of the break above or below Tuesday's candle will be significant and a sustained move below the 2x1 should lead to further weakness.I like that the recent top was 3 months from the high. A break above would be bullish,needless to say.
On the weekly chart the previous week was a spinning top with a a bearish black candle with LL this week
Kimble has an interesting chart.....there's that number 7 again
On the weekly chart the previous week was a spinning top with a a bearish black candle with LL this week
Kimble has an interesting chart.....there's that number 7 again
Nice site Fibo! I've been following they Murrey Math, more for price than time, but you know both his 16 and 32 day frames are 2 trading days away from major 0/8 time lines. So I think you're right, we may actually see a turn next week. Should be interesting.
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Thanks OneLouder I have to say as a discouraged bear I sometimes find it takes a little more effort to maintain than used to be the case but Im still trying LoL
ReplyDeleteThanks for the MM time insight
Apparently it takes a long time time to form a top. I guess it will come when they least expect it.
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