Replies to post #30066 on The TradingEdge

[jxyzobrien]

weekly charts
Weekly charts had to finish to send clear signal.
Now if spx or oil weekly charts look bad then wave 2 rally
in jeopardy.

Bollinger
In monthly spx wave 1 as you say markets become oversold and wave 2
tries return to MID BB CL which is actual true prices
spx (2032) (will change a bit).

Then wave 3 is straight down and you can no longer use bollinger
bands.

As the bear ends spx monthly hits RSI < 30 and the
end of bear confirmation is return mid BB CL
in New wave 1 uptrend.