See above.
Did any technicals predict the melt down?
- Thread starter Saltynuts
- Start date
is that interpretive art?
Abstract art. We can now dub him “the painter”
Well, my analysis showed that the market would decline but I didn't think that it would be this bad. What I did was draw a long-term trend channel and prices reached the top of the channel. Personally, I thought that the ES (for instance) would fall to 2700 before rebounding but the price fall took out the bottom of the channel. I even expected a period of consolidation before any weakness but the market sold off almost immediately.
So, I wouldn't say that my technicals predicted the huge selloff but it did indicate weakness in the near future. Going from history, whenever any of the indexes reached the top of a channel, there would be weakness but nothing major.
So, I wouldn't say that my technicals predicted the huge selloff but it did indicate weakness in the near future. Going from history, whenever any of the indexes reached the top of a channel, there would be weakness but nothing major.
Then you were looking at a different history than what my charts show.
Does it count if it doesn't touch? We missed Monday's low by 5 ticks.
You funny...
%%
Good points;
but op needs to learn markets are not really about prediction. He could start with a 200 day moving average. But like IBD[Investors Business Daily ]noted ,easy to manipulate 30 stocks /DOW, DIA. No wonder SPY/S& P 500 is the main benchmark. NOT a prediction ;some do forecast weather but no one calls it weather prediction. Good question, salty.
