The Last Week And A Half Was Like A Lesson In Technical Analysis

howtoScott Redler: World markets maintained a positive tone over the weekend as the equity rally remains underway. The Shanghai Composite that double bottomed over the Summer led Asia overnight making multi-week highs. Japan also continues to act well as it’s provided multiple opportunities long during 2013. Europe is also holding steady after some spots made five-year highs. There is lots to like on all time-frames.

The last week-and-a-half was like a lesson in Technical Analysis.

The Rally was re-born with a Red Dog Reversal on 10/9 when we reclaimed 1655.
10/10: Textbook “gap and go” with potency that closed above the Descending Channel that formed in late September.
10/11: Showed commitment above that Descending Channel.
10/14: Market absorbed the gap down despite

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