friday trading, page-91

Its interesting that at the moment we have changed from an all out bearish consensus to a mixed one, and I am in the middle.

I always feel uneasy when we all agree, so this is certainly a more healthy setting.

I do agree with the dates mentioned.

Feb 19 is 90 cal from the low and 60 to Armstrong's right shoulder and is around the dates that have been turns for some 12 months or so.

After 1987 low of 11/11/87, we went sideways and made a higher low 10/02/88 or 91 cal days from low.

So 89/91 days or Wed 18th to Fri 20th are in the ballpark.

Some shares here and US have been doing OK since the Nov low and so one could argue for a high, while others are making new lows and could qualify as a low.

Surely it couldn't be as perverse as those that rallied fall and those weak rally.

Could someone just forward me an indicator that tells me when a sideways pattern is about to form and end, and it will make life a lot easier.

Speaking of which, I see ADX in the DMI indicator is getting low indicating we are close to the end of a non trend period.

For those who think we can just charge away up or down, I doubt it. Yes BB's are narrow, also suggesting breakout but BB's are also constraining, meaning they limit big moves.

That typically means a new trend will push against a band for a few days and pull back and the band will widen and then it will surge a bit and push again, building a band in a direction and steeper.

So while anything is possible I don't see a collapse or surge out of nothing so do not expect something later this week to be special.

The only qualification is that a big move with an equally big reaction could happen within a day.

Probably I will be shown to be completely wrong. Wouldn't be the first time.