Friday we had one of those algo-driven ramp jobs that carried over into the cash markets and just wouldn’t quit.
CL reached our immediate downside target and has bounced, though not cleanly.
While, USDJPY continues its sideways action, basically marking time as per our analog.
We’ll review the analog this morning, taking a look at the big picture and likely turning points between now and then. For our new members, it will be helpful to review the analog, its origin and implications, before continuing. The original posts can be found here:
And, for those wondering what the heck an analog is in the first place, check out:
It takes you through a spectacular analog I came across several years ago that accurately predicted the 21.6% July – October 2011 crash to the day and dollar — giving buy and hold types ample opportunity to protect their holdings and aggressive traders an opportunity to make a killing.
continued for members…
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