fryday trading, page-10

I have to admit to allowing consideration of oversold cloud the historical record regarding pattern formations.

With the formation of that flat bottomed triangle on an XJO line chart, I suggested a bounce off the base and then once broken through the base, a bounce to relieve oversold and then down to theoretical 4000.

Yes, we had a good multi day bounce off the base but once through the base we had just an intraday rally to the base and then it has all been down.

And really that's how it should work.

You either get a multi day bounce off the base and then once broken it just goes down OR you don't get a bounce off the base, just crash through and then you get the multi day bounce back to the underside of the base.

You don't usually get both.