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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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catou1
The Ox
towerdog
To: catou1 who wrote (81125)9/6/2023 1:50:38 PM
From: Sun Tzu3 Recommendations  Read Replies (2) of 98192
 
As Q wisely said, the market does one thing and there are many ways to look at it. So here is mine:

As you know by now, my systems calls for selling at the redline on weakness. So the initial sell point was where that red triangle is. The thing about that is that sometimes stocks nosedive from there, but more often they linger along before tipping their hand.

The first target is usually where the blue line is (especially if you've had a nice straight line). And that is where we bounced near. But now that too is breaking down. Going below 41 will likely send it to 39/38 (give or take), for another 5% - 8%. That translates to 15% - 24% gain in BNKD.

After that it should stop going down or hover near a slow descending line. Breaking 36 would mean we are headed for a hard landing and fast. That will have a lot of implications for a lot of things.

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