If
it closes here the market made a new higher high and reversed to print a lower
low than the previous day. That would be interesting if it occurs.
As
a note, I quick called the end of the 1929-1987 SC analog. Everything
Carolan did was based on end of day price without regard to lower or higher
intraday prices. He ignored some intraday highs and lows that did not
mark the corresponding end of day print. That’s consistent with the
classic TA masters Dow, Edwards and Magee and others who believed the real
players don’t take meaningful positions until the last hour of the
day.
Jim