One thing I've been thinking of the past few days is the scenario we were talking about 6-months ago here, using bradley turns.
Low-October 20-27 or as late as Nov. 7, high Nov. 27, low Dec. 31, high Jan. 10, low in April.
Well, it's been nearly right on every turn, except the Oct. turn, which was off by a couple weeks.
I think we've got to look at this and say our original read on the turns was correct, but the values we pegged to them were not.
If the turns have been pegged correctly, we should not discount our original read. We need to confirm it by keeping in mind the indicators and price action, but we were pretty on, and I think this may be another time when our original read was correct also. Time will tell.
I think this bounce dies at or below the gap resistance at COMP 1400 and NDX 1041. |
