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Friday, November 1, 2013
SPX futures pinging off the Bernoulli 133 channel line
When the chart "pings" off an important channel line, that gives a lot of credibility to the channel. Futures ES is shown here, with a perfect ping off the Bernoulli 133 channel line extension.
Bernoulli channels (my creation) are like Fibonacci, but they take into account uptrends and downtrends, i.e. headwinds and tailwinds, organic buying and selling amidst the trading moves.
As predicted a few days ago, I expect a move to 1700 to the Bernoulli mid channel line, the B50.
Drop a comment, like to see some discussion and chat in here.
Posted by Stock at 5:59 AM