Quote:
Originally Posted by Slava
^ I don't get it. I mean let's say that the decline there wasn't as far, or the market didn't pull back. The line would just be at a different angle and still fit the story? Like the predictive power of this seems spurious at the very best? What am I missing?
The line cuts through the 2016 bottom and makes no contact with any other point until now, so I just don't see the relevance? What difference would it make if the end value was 250 or 260 here?
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Sorry my bad. I just posted a close up of the chart from post #186 so you could see the more recent action better.
It's a very well known and well established line. Lots of programs are watching it and trading off of it.