65% Rule?
Oscar Carboni notes a triangle pattern where the triangle forming will make an initial false breakout at the 65% point in time.
I think we are likely just making one of these 65% detour fakeouts....
I think the cycles look pretty good ahead late November. Will re-evaluate and likely go flat on equities in this late November period...but for now staying long....Let's see if this 65% area is a false break and the bulls can make a strong rebound....
I think we are likely just making one of these 65% detour fakeouts....
I think the cycles look pretty good ahead late November. Will re-evaluate and likely go flat on equities in this late November period...but for now staying long....Let's see if this 65% area is a false break and the bulls can make a strong rebound....
posted by chartblog at
2:03 PM
2 Comments:
Thanks for posting the interesting information regarding the triangle and the 65 percent rule.
65% "rule" interesting idea, but probably only works 50% of the time. Note that in same video Carboni predicted SPX 1650 for 2011 close.
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