Couple of XJO charts with some Action/Reaction stuff.
The construct of A/R lines is really simple. Find a centreline, usually a trendline of sorts or can be a multi-pivot line. Then to the left of the centreline, find an Action, like a swing high or low, and mark that. To finish, in the case of this particular model, simply mirror the 'Action' to the right of the centreline repeatedly - this is where you anticipate a 'Reaction' occurring at some point in the future.
This is from the work of Dr Alan Andrews and Roger Babson - the guy who called the crash of 1929.
Using multiple sets on a chart is my own thing, I've never seen that done elsewhere, perhaps for good reason... However to this point, the results speak for themselves.
Anyway, it does look like there might be at least a bounce here tomorrow.
And zooming in a bit:
The Brains Trust - 2015, page-6153
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Last
3,169.6 |
Change
38.000(1.21%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 3,131.6 | 3,178.4 | 3,131.6 |
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