all Indexes in channel at 12:20pm 10/22...what will break them out?

[increasenow]

Quote from circadian:

Classic setup

for what, a buy signal?...hmmm

 

[The Voyager]

There is no need to predict, just as there is no need to catch absolute extremes otherwise known as the best fills.

Think like a predator, he does not try to kill every potential prey, instead the predator patiently waits for a clear low risk high probability signal and long and behold, reacts!

TV

 

[circadian]

Quote from increasenow:

for what, a buy signal?...hmmm

No, just to short today, as the market hacked up 5%. I guess you must not have noticed.

 

[Cariocas]

For those who have studied patterns, a good rule of thumb is check where price is relative to the open. If the channel has been forming most of the day 'below' the open, especially on a gap down, then the likelihood (substitute w/probability, chances, etc.) of it breaking down are much higher.

A 'W' pattern with an upward reversal of a tight channel is a rare pattern and usually shows up when establishing bottoms. We're not even close to a bottom on this thing. I'm sticking to 5500-6000 on the Dow. See you then.