redbacka's - the last shorts - tuesday, page-160

"why would you not call (what 64eheh said I think yesterday) 9th of August the low and 4th Oct the higher low?"

For the same reason we didn't call Sept 26 the higher low when it put in or Sept 14 the higher low when it put in. They are all higher lows relative to Aug 9. So we haven't put in a higher pivot low relative to the down trend we had within our trading range - and a downtrend in a trading range is not generally a good sign - accumulation within a trading range would typically contain a serious of higher highs and low within the range and then they finish it off with a "terminal shakeout" where everything seems to be going good and then they shakeout out the market one more time to offload the public before marking it up. We kinda have the opposite at the moment so I wouldn't trust a higher low unless it led to a convincing break out of this range (4350 roughly).