Hi BD,
At 4pm yesterday the futures where down by abt 50odd points
Why didn't the Futures hint at last nights huge rise was coming or on the cards ?
After close Redbacka didn't know which way either lol
At 4pm BHP/CBA were going to close midway if not worst for their days trading, which imo showed a bit of indecision as well
At 4.11pm they both closed near their highs ( which made the XJO look much better) on huge after market auction volumes,
which made them look better on the daily timeframes
The night before last, the US charts showed indecision to the north with narrow spread little upbars
So at close yesterday imo anyone leaning towards a huge overnight market increase was having us on and/or had too many cokes at lunch
It was a 'surprise' decision by a lot of central banks that lead to this surprise rally,
which was helped along of course, during the night by other factors as well
Below is the daily DJIA but I've done some analysis based on a 3day timeframe, confused ?,
sorry but the 3day bar will be complete tomorrow morning :)
Now last night they had what could be a very nice SOS busting straight thru the top of the Trading Range,
much much better than the previous attempt weeks ago which just lead to that inept stroll along the top which was just waiting to fall back in.
Will be very interesting to see if last nights SOS is successfully backtested in the next little while and if so this imo
will lead us much higher and we can then brand this TR as one of accumulation.
If unsuccessful well back to square one.
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cyclic's - letting the madness out thursday, page-74
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