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Monday 12 August 2013
What happened last week
Aussie and Cable's reversal patterns delivered good results since my last post. SPX is still dragging its feet to make the last push to 1725. This is the last channel chance to make that move.
I like that SPX channel. It does look like SPX is drifting lower and lower though. There have been 2 touches on the green bottom channel. It just looks to me that there will be a third touch, which will break the blue channel.
The green channel is breaking up today I reckon. From what I've seen, the third touches confirm the channels' supports and the fourth touches break them 90% of the time.
I like that SPX channel. It does look like SPX is drifting lower and lower though. There have been 2 touches on the green bottom channel. It just looks to me that there will be a third touch, which will break the blue channel.
ReplyDeleteThe green channel is breaking up today I reckon. From what I've seen, the third touches confirm the channels' supports and the fourth touches break them 90% of the time.
ReplyDelete