Sunday, January 25, 2015

Blowout days

Sunday update, Still on a buy as we remain in green zone, Monday could be up big depending on Greece.
Comment on Thusday

Thursday Jan 22nd we had a blowout day. I consider that a day where we have a range of at least 1.80% or higher. I will list several such days below.
I have read on other sites that a big move happens near the end of a cycle. They maybe talking about a blowoff rally. I have yet to see one on the samples that I looked at.
This blowout day can either be up or down but I don’t find it a CIT in any way. I don’t think it even has Elliot Wave connections. You may think a blowout day has a lot of meaning, but I don’t find a link in my study with many hours of chart reviews and bar counting. I think a study of the trend will tell you what happens next on those days and if it will reverse. In summary blowout days are not a CIT (change in trend), not a top, or a bottom just short covering or unwinding positions.
My 2 cents  Jerry     TimingShortterm yahoo groups




































To make it clearer
10 TD means 10 trading days.
The color green is up and red is a down trend.
So 3 red across is a strong down trend.
We are currently in an uptrend.


Ps numbers mean nothing as far as this chart.


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