Replies to post #7670 on The New CS Board

[ahimsak]

Here is what I see:

An oversold market still in an uptrend. We can either rally straight back up to 1570, which is a sell signal, or rally for 2 days, retest, then rally to 1570 or more, which is a sell signal.

Or keep falling another couple days, which then means a rally back to 1535 before the big decline sets in. so if we drop to 1500, then start shorting at 1535.

Have watched this for so many years keep repeating the above.

Tops are hard to predict, but once they form a pattern like now, it is easy to know what to do after the next move, be it up or down.

We could have a blow off top to 1620, but is unlikely off this pattern, but nothing ever plays out exactly as planned.