No high or low on 5/19 - simply sound and fury. Much fear, then greed, and little to show for it. No matter, time is endless...the wheel never stops turning. The next important cycle I've got is 6/2. Can't point to a high or low (though I suspect it starts with an l.)
Here's an Alan Andrews side method. Notice the two black lines forming a channel from 11/4/16. Price convincingly broke the bottom, gapped through no less, and has maintained its "below" place for three days. It must punch through the trendline to regain the channel; sure it can hug the line upwards, but it would validate a more anemic outlook. Anyway, Andrews cited an "action/reaction" line mode where a channel width is replicated, bull or bear. (Others might call this an Andrews' "warning" line, but I think it fits the A/R.) The idea is that price could drop to anywhere on the line and bounce.
The fuchsia (I dunno, I have color problems) line drawn from 3/1 to the 4/19 low and to the A/R spot dates to 6/2. Hmmm? I know that from somewhere. It doesn't necessarily prognosticate price - yet it could. To stay away from the A/R, the Dow has to pierce the yellow resistance line, having touched it already four times. Will it eventually give up to gravity?
Yam
Here's an Alan Andrews side method. Notice the two black lines forming a channel from 11/4/16. Price convincingly broke the bottom, gapped through no less, and has maintained its "below" place for three days. It must punch through the trendline to regain the channel; sure it can hug the line upwards, but it would validate a more anemic outlook. Anyway, Andrews cited an "action/reaction" line mode where a channel width is replicated, bull or bear. (Others might call this an Andrews' "warning" line, but I think it fits the A/R.) The idea is that price could drop to anywhere on the line and bounce.
The fuchsia (I dunno, I have color problems) line drawn from 3/1 to the 4/19 low and to the A/R spot dates to 6/2. Hmmm? I know that from somewhere. It doesn't necessarily prognosticate price - yet it could. To stay away from the A/R, the Dow has to pierce the yellow resistance line, having touched it already four times. Will it eventually give up to gravity?
Yam