Replies to post #78300 on ajtj99's Market Pulse

[ajtj99]

Namair, your observations are on target.

As for intra-day extremes rather than closing prices. How can one determine when price is relevant and when it is not?

It is arbitrary and illogical to use only closing prices for trendlines. If price was there, it's significant and needs to be included in the analysis.

Disregarding price ranges because they are not significant in one's mind (like an intra-day price) is dangerous. If price went there, it was significant and must be accounted for when drawing trendlines.