Great trading day again. Staying short from the open , under the 100MA, and, hopefully closing at the PD bottom, and soon after reversing to go long, at the latest at 9230 when the PD bottom got confirmed by breaking through the 100MA. Riding the rise was really easy as the rally was so strong, it was way ahead of the 100MA, at times over 100 points. The get out was strange too. The obvious out, to plan, was at the third peak on the nd top. This was not to be the final top though, but for 180 points in 70 minutes, who cares?. I can offer no explanation for the extra bump, except perhaps the shear strength of the rally. A possibility here is to analyse further the distance of the 3rd peak away from the 100MA. Is there a value that says there will be one more push? The value today was +100. ie the 100MA was at 9206 when the final peak was at 9307. Or would it be the difference on what would /should have been the final low break point? That was +60.......The final peak at 9370 developed into a bear triangle that went on to perform to target. Hardly surprising...The day has finished off 4 points below the 100MA, and with an inverse head & shoulders in sight. Being in uptrend mode,I'll put my Bull hat on and say we move on up from here, as the Inv. H&S should perform......9312 should turn out to be the "safe entry".
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