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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