JEFF L: COMP Triple Bottom Breaks below.
Jeff, you make excellent T/A points and I pay close attention to your arguments; however, Triple Bottoms Breaks almost always mean Substantial Downside:
stockcharts.com[r,a]daclynay[d20010101,20010701][pd20,2!b50!f][ili10,10][j8871259,y]&listNum=2
stockcharts.com[r,a]daclynay[d20010701,20020101][pd20,2!f][ili10,10][j8871272,y]&listNum=2
stockcharts.com[r,a]daclynay[d20011001,20020301][pd20,2!f][ili10,10][j8871278,y]&listNum=2
stockcharts.com[r,a]daclynay[d20020101,20020701][pd20,2!f][ili10,10][j8871278,y]&listNum=2
stockcharts.com[r,a]daclynay[d20020701,20021231][pd20,2!f][ili10,10][j8871286,y]&listNum=2
These charts were done quickly but hopefully they show that Triple Bottom Breaks usually lead to a lower COMP "shelf".
Moreover, they normally also signify the start of a major DOWNTREND. Jeff, please share your views on these observations. TIA |
