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Comments on: Mid-day Update… Will lightning strike twice? https://rd.johnlander.me/mid-day-update-will-lightning-strike-twice/ Futures Market Timing | chaRTroom | Technical Analysis | Instruction Thu, 10 Dec 2015 18:59:17 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: SM https://rd.johnlander.me/mid-day-update-will-lightning-strike-twice/#comment-468 Thu, 10 Dec 2015 18:59:17 +0000 http://www.roddavid.com/?p=15537#comment-468 1) Since today’s high is a test of the 61.8 retracement of yesterday’s down leg, would a close above today’s highs indicate that the downside is done (for now)?
2) Since “any downside [today] was likely to be only temporary…”, does the fact that the downside test was delayed, connote bearishness?

]]> By: Rod David https://rd.johnlander.me/mid-day-update-will-lightning-strike-twice/#comment-467 Thu, 10 Dec 2015 18:34:04 +0000 http://www.roddavid.com/?p=15537#comment-467 In reply to SM.

No. But they’re never a timing tool. Any downside was likely to be only temporary, for many reasons, among them being the overbought RSIs that would be left outstanding.

]]> By: SM https://rd.johnlander.me/mid-day-update-will-lightning-strike-twice/#comment-466 Thu, 10 Dec 2015 18:24:05 +0000 http://www.roddavid.com/?p=15537#comment-466 Haven’t seen any mention of OB RSIs being a relevant attraction for a retest of the highs. Is there some reason why OB RSIs aren’t a factor today?

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