Morning all,Just had a look at Terry Laundry's latest update...

Morning all,

Just had a look at Terry Laundry's latest update (http://www.ttheory.com/).

In summary:
- the 55EMA will continue to provide overhead resistance
- the 5 Nov spike high is the high for this rally
- rally will probably extend to 17th (or 14th) Nov before collapsing to new major low
- possible (though uncertain) rally from new lows with peak 3rd week of Dec

His suggestion about 14th-17th Dec as being the end of this rally lines up with Robbbbbbb's 17th turn date.

Now looking at how this translates in terms of channel movement. At 3960 we had a 2nd test of the bottom of the current uptrend channel. If TL is right this suggests that from here we fail to get all the way across the channel to test the channel top a 2nd time and so a nasty fall follows.