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Cobra wrote:not double top then possible 100% mm then.
What is mm? (still learning)
Measured Move
logic!
Measured move is an expectation that a move will repeat by the same amount from a new starting point.
Cobra is very good at finding them and they usually work. I think he often indicates that one can expect the second leg to be good for about 68% of the full move (Fibonacci number). This one looks to be a failure but they are pretty reliable
Sorry for my xtrmly short explanation. Members like OfB render GOOG obsolete
fehro wrote:SPY *60m.. expanding wedges.. cyan or yellow.. so depending on what Yellen says.."IF" she says something major.. anywhere between 214-221. Mind the red dash line.. we break it could see a sharper drop. fwiw.
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