mitta's - positioning for a bang thursday, page-37

The exception proves the rule, they say.

I never did understand what that meant.

However I know rules never work all the time.

USUALLY when you get a sharp break up, the market goes flat for a few days.

Bears are hoping its a top and missed-out bulls are hoping for a pullback to get in.

So of course we then USUALLY get another one day surge.

This capitulates the bears and slack bulls and so the job is done.

Then the market can have a better pullback to upset everyone etc.

So the chart below indicates what I mean.

It seemed it was going to disappoint me today as I thought today might be the one day surge day.

Seems it might do it yet.

For the longer term, the 65 weekly sma (red dotted) has not been broken on a close but if does it suggests a good chance triple resistance at year highs will be retested.