We have a fantastic Advanced Trading Techniques works in Melbourne this weekend … we started on Thursday afternoon with a brief introduction for the Platinum Super Traders, and then worked through until Saturday afternoon with a great group of traders eager to learn the analysis methodologies.
Last week the All Ordinaries index made a two day counter trend down before continuing its rise into the stratosphere! A new all time high was made at 3877.1 on Friday, November 12.
I mentioned last week reversal dates November 5-8 and November 12. The market reversed November 8 … let’s see if it has a down day on Monday.
A point of interest/observation: From the March 13, 2003 low, the index is working on the weekly harmonic of 90 … look at the lows at 15 weeks, 30 weeks, 45 weeks, 60 weeks, 75 weeks … 90 weeks is in 3 weeks time!
Reversal date as mentioned last week - November 19-22.
I will be in New Zealand for a well deserved break for the next two weeks, but still hope to get a report written each week.
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