Triangle & MajorMarket Comments 10/22 by Chichi2
This market's controllers know where they are and what they are doing
Notice all the Indices moved Down within Their personal Triangle Formations, they hit the Bottom of the Triangle went Thru it. Here I use the DOW as an Example.
Then, on Cue, with minutes left before closing, the DOW retrenched up about 150 points to close Down "only" 514 points. To close almost precisely at the Bottom of its Triangle. See my Chart.
siliconinvestor.com
In_Oversight Ed Downs says, "the Dow continues to wind up within the boundaries of the large, 2,240 point triangle pattern, which has continued to evolve over the last 2 1/2 weeks."
"Eventually, a breakout from this triangle could spark a major directional push in the index, which could be worth up to 2,240 points. Keep an eye on today's lows at 8,300 for signs of a downside break, and 9,300 for an upside break."
"As usual, if the Dow remains above the lower boundary at 8,300, we will likely see more development within the range until a break occurs."
Ed Downs provides a daily trading analysis of Nasdaq (Fee) and Dow (Free), well worth his subscrption. signalwatch.com
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MajorMoves Comments for 10/22 by Chichi2**
siliconinvestor.com
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Futures (3) + World Indices
siliconinvestor.com
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