[RT] DS on the OEX....

["t-bondtrader" <t-bondtrader@xxxxxxxxxxxx>]

BobR
 
Re having posted this chart before, to show the 
Dojo Sandwich pattern on the top and bottom of the haul down - what I did not 
realize at the time was that it was the right hand shoulder of a H&S 
pattern.  When you close up the same chart, you can see 
the retracement was to the neckline.   Hence the failure of the 
DS pattern as a 'bottom' and now I feel the subsequent DS, which formed the 
re-test of the neckline, should be viewed as continuation DS with the overall 
downtrend in tact.
 
That is not to say the market might not stall for a 
bit and muck about, but it certainly looks as if it is going to come off - and 
if, eventually, it went the length of the neckline......  On the other hand 
we could see a DB and it would be necessary to measure this as a bullish 
retracement from the high.  We have just seen this happen on the 
bonds...
 
Best of...
 
Bill






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