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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Underexposed who wrote (90270)	3/4/2017 5:22:23 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 218627

Thank you for yet another very excellent assessment, many thanks... Here's my take on DB at the moment... I see one bullish wedge after another with break outs higher... based on probability alone, I would anticipate this market to bounce off the lower wedge line which is not far away and then resolve higher again, probably to that overhead resistance which you mentioned... and then higher overall... while nothing is ever certain aside from taxes and death, I would think the odds of this chart resolving higher is more likely than not... looking at the time currently spent inside this current wedge, I would think it could take another week or so before touching the overhead wedge line... I refer to the time the market spends inside any wedge as the 65% Rule... this means that prices very typically break out of the wedge 65% of the way through the wedge, it rarely moves all the way to the narrow point... the longer it stays within the wedge, the more likely the market will breakout in the direction of the current overall trend... This assessment would be construed as bullish for this stock at this moment... Of noteworthy interest here is that the current lower wedge line offers support at about the same price as the far right point of the previous wedge, and we can also see that same occurrence at the previous wedge... this chart shows a stock which likes to take deep breaths in and out, but so far the eventual direction has been higher since late last September... so, time will tell soon enough... GZ