treggsThanks.I certainly didnt go short at the early Nov 07 High...

treggs

Thanks.

I certainly didnt go short at the early Nov 07 High - I've not really found a reliable way of suggesting an XJO top other than when it makes a short-term high (i.e. lower highs each side) which would have you whipsawed in and out too often if you were to try to trade a 23.6% retracement.

I shorted when I felt reasonably sure that the Weekly would form a lower Intermediate High, knowing that the XJO has a tendancy to retrace to the 23.6%. I shorted at 6440 on 17/12 (once the cash had dropped below the 90 daily EMA.)

Treggs, you ask for an expanding wedge using this years action too. I'm not a Gann nor Elliot chartist, so if thats what you are looking for Id be clueless. Ill have a crack at what I see as the shorter term action later today if I get a chance.

Thanks again for the feedback.

-HBG