Zack_The_Lego

Zack_The_Lego

With the double bottom this week I expect we move a bit higher on low volume or maybe chop next week and then we continue the ascent week after next. My Strategy backtests with 56% accuracy, PF 2.4. The avg winning long is 3x average losing long. Short wins are a little more than 1:1 which isn't ideal but still over 65% chance at hitting short profit...

Zack_The_Lego

You heard it hear first...

Zack_The_Lego

Our first major hurdle would be a close above the yellow line on the daily, and then the weekly. As you can see the 150 and 200 weekly exponential moving averages are converging right at key resistance; the zone halfway in between the close and open of the large orange candle there. Fibonacci followers could consider that a 50% retrace zone. The week of 9-14-15...

Zack_The_Lego

We flipped from a deep red to green today on decent volume. I imagine we gap up tomorrow and test somewhere halfway up yesterday's (March 25th) candle which will decide if we continue higher or lower. Don't be surprised to see more sideways action in the form of a falling wedge or flag over the coming days or weeks. IF we gap down tomorrow then the 150dema is on...

Zack_The_Lego

Much a do was made about February's gains but it was less than 7%. A similar move was made in January of 2013 and an even bigger move was made in October of 2011. So here's some perspective on the monthly moves that were made in the DOW. Notice how the only 10%+ moves (Blue) were made going down.