Replies to post #16687 on Zeev's Turnips Patch-No Politics (ZEEV)

[wahz]

atjt,

so you expect a drop to about 1265 which is a 50% retrace,perhaps in the next few days, and then a leg up to 1400 into month end? And you expect maybe a higher top into sept expiry(1455ish?)and then a new low into Nov 7(1000)?

I am just trying to pin numbers and timing onto some of yours and others guesses. Obviously I think you are hammering the ball or I wouldn't be asking

Thanks.

[LG]

ajtj99: Donald went back to 1991 and examined 11 occurrences of Bearish Wedges/Flags and the duration of each. Before these broke down, Don noted that they lasted 18-23 days, except for one which lasted 26 days and another which lasted 28 days.

No kidding...LOL

Heck, I can count two arguably three in the current COMPX rising channel off the 8/5 low and not one of those follow the above parameters. I traded the first two and expect the third to resolve to the norm as well. I can easily illustrate more than eleven rising wedge patterns in the COMPX chart this year, without including flags.!

Wedges and flags while similar in some respects they are not the same.

Regards,
LG