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Strategies & Market Trends : John Pitera's Market Laboratory
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John Pitera
To: John Pitera who wrote (17539)1/6/2016 12:29:29 PM
From: The Ox3 Recommendations  Read Replies (1) of 33421
 
Here's another one of wolf's charts.....I've been very respectful of the down trend channel that has shown itself since Nov. and believe we'll bounce or retreat whenever we get near the top or bottom. As we are approaching the bottom of the channel, I think we're due for a bounce but, as I stated earlier on a different thread, I believe the lower gap on the chart is still a magnet and we'll very likely follow this channel until that gap is closed. Obviously, a break below or above the channel will have me rethink what's next but until then, I've been of the belief that there's no reason to "disrespect" this channeling move!!

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