E ess1096 Mar 13, 2007 #1 I think the market had it's A and B legs of the correction and now it's on the C leg. SPY failed it's attempt to break out of the channel again. Will it break out of the channel again or drift back down to the bottom? Opinions? Attachments spy.jpg spy.jpg 41.2 KB · Views: 102
I think the market had it's A and B legs of the correction and now it's on the C leg. SPY failed it's attempt to break out of the channel again. Will it break out of the channel again or drift back down to the bottom? Opinions?
C CTT Mar 13, 2007 #2 If you use a different top for the trend line, you get something like this. Looks like it is bouncing off support. Attachments s.jpg s.jpg 34.6 KB · Views: 78
If you use a different top for the trend line, you get something like this. Looks like it is bouncing off support.
C crgarcia Mar 13, 2007 #3 Technical analysis just isn't moving the market now IMO. Now its mainly based on exogenous factors (Chinese stocks, yen, recession fears, etc.) Will take a bit for the market to stabilize so that charts become useful again.
Technical analysis just isn't moving the market now IMO. Now its mainly based on exogenous factors (Chinese stocks, yen, recession fears, etc.) Will take a bit for the market to stabilize so that charts become useful again.
E ess1096 Mar 13, 2007 #4 Quote from CTT: If you use a different top for the trend line, you get something like this. Looks like it is bouncing off support. More... True, but that would form a wedge as opposed to a channel.
Quote from CTT: If you use a different top for the trend line, you get something like this. Looks like it is bouncing off support. More... True, but that would form a wedge as opposed to a channel.
