hopefulone's - almost there - friday, page-202

Hi db76,

Yesterday's chart was the XJO with a fork indicating lower tyne support at 4100. It worked ... so far.

The SPI closed in NY this morning down 5 points so that could bode well for the validity of this fork next week.

My XAO data extends back to 4th Jan, 1982. Using all that data I get the monthly chart below. I'm not comfortable with the amount of data available pre-87 crash to hazard a valid fork case addressing that decade of history.

Your '10-year' point addressing the period from 87 to 97 indicates the time spans needed for a monthly study. So at least 10 years pre 1987 would possibly offer a possible rhyming study.

Maybe someone here can post a pic of XAO monthly data back to the early 70s. The market lows of the early 70s would definitely anchor a fork construction and the 1987 extremes would set up the upper and lower tynes.

I agree with you that things can rhyme. In its most basic wave pattern case of 5 up followed by 3 down, the market 'rhymes' as these fractals repeat at greater or lesser degrees.

Cheers