believe it or not, TIME and PRICE are interchangeable and they are the same “thing” when it comes to charts … big lows and big highs will ALWAYS tie themselves mathematically to calendar day, solar time, square roots, etc… so in the midst of today’s sell off we’ll look for a close on the NASDQ around 4125-4128. (take into account the weekend). I am writing this 6 minutes before the close …
looked for a square out once before …. http://bartscharts.com/2014/01/05/look-for-a-close-inaround-4106-on-nasdaq-tomorrow-equality-of-time-and-price/
this technique is not a panacea, but it is certainly a good idea to see and understand where these time/price correspondences come into play …
stay tuned …
Bart
