| | | Hello Henry! Good work with the TA. I enjoy getting your posts, and appreciate the guidance they provide.
I know this is not TA. I haven't studied it and don't pretend to know anything other than a smattering that I gained from your presentations. But, as a thought experiment and point of discussion, I present the following revision of your chart.
What I see is an incomplete advance which portends a second wave. All three of the added lines are in parallel, the angle of which is derived from the top of the Feb - Mar advance, being the most recent. The early Feb advance, after the gap down, sets the minimum range target of the current advance. Given that sentiment since the down gap of Jan and the Feb advance has completely reversed, the range of the advance is a logical minimum target, and the starting point is based on the Feb - Mar advance rate and excludes the noise of uncertainty leading into the ER. You'll see that the top and bottom lines form a parallelogram, the right end of which indicates the minimum extent of the current advance. The "Gap volume less than previous period" indicates that the gap up was, so far, indecisive.
Now that you've had a good laugh, let's see what happens.
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