Well, as predictable moves go, last night on the SP500 certainly qualifies; an oversold bounce off the 20 week EMA, precisely tagging the bottom of the channel, before pulling back to lose 40% of the day's gains...
Our ASX200 yesterday was similar but different, coming from below the 20 week EMA and recovering the channel, but still pulling back 30% from the day's high...
Should note however, that the ASX200 channel is half the duration of the US500 chart, with fewer points of contact - so not as strong an indicator/reference point.
