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I f you remember the false break out in Tbonds 12-15 Oct, then please note that we had a similar incidents in S&P and the Dollar which makes things interesting.
On Oct 15 we had a brekdown through the neckline of a distinct Head and Shoulder pattern in The Dollar agains DM, which was imediately reversed. And this was a true "false" break since the $$$$ rallied for 1,5 Month and a 10% gain to new highs after the break. Unlike the Bonds.
Exactly the same thing took place in the S&P index!!
False breakdown from a Head and shoulder pattern on oct 15th. price reversed and ralliet to new highs and a 15% increase in price.
What I find interesting, is that all this happend in October. We were entering the last part of October, which is the month most prone to breakdowns/corrections and crashes.
Was the CTP (Crash Protection Team) working overtime?
Is it really possible to avoid breakdown in the 3 largets markets???
What are the odds of false breaks in THREE markets on the same week (even day...)?
What really happend that day?
As far as I remember, prices just turned without any special event taking place, like nobody was noticing.
Any thoughts on the subject?
Like Gwenn said, is this the break out or the climax?
Will the other markets follow the bonds (down........)?
regards
Stig
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