iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,121 Blog Posts

The Swing High Is Weak

Quick note on the current swing high on the NASDAQ.  It formed on 09/22 in the shape of a weak high, meaning, we tagged the exact same price level, 4892.25, twice before moving away from the high.

These types of inflection points rarely survive.  Therefore, expectation is we take it out before exploring lower prices:

10062016_nq_vpgapsmeasuredmoves

If you enjoy the content at iBankCoin, please follow us on Twitter