This is my interpretation of Terry Laundry's Magic T's drawn with my special derivative oscillators from a Daily chart of the Dow Jones Industrial Average. My latest daily T ended on October 21, 2009. We are now in a period of high probability of Market under performance. This will effect the intra-day T's. We should expect to find more failed T's in the current environment, so trade appropriately.
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3 comments:
I agree about this downtrend increasing the likelihood of collapsed Ts. What does your analysis say about a potential 4-day T that formed at this morning's (27th) low?
There was a center post formed yesterday at 14:40 and ended today at 12:50. These are approximate times. I can take the extra time and go to my spreadsheet and get exact times if you wish.
You know George, three of the last 5 T's have collapsed early.
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