geometry of the midcaps ($MDY)
I like the tops and bottoms of circles … they are pretty powerful and not often used in the technical analysis community. the reason they work is another subject for another time. if you would like to know a little bit about their formation and their cyclical (price and time) characteristics hit me on email.
take a look at the mid-caps … perfect hit on Friday of the “top of a circle” and on a daily chart we had 3 very powerful sell patterns hitting at the same time.
watch this for weakness … if it let’s loose and busts thru the to the other side higher then let it breathe for a while and it will come back to 270 for the opportune time to get long.
in the meantime … let’s see if the top of the circle holds, or not.