Do you know, statistically, how often an index (or stock) will
hit a resistance trendline like that (flat-ish resistance; not a
downtrend channel line) four times and NOT break through? My
limited knowledge says when it hits that many times it's very
likely to break through.
SPX 60 min - note trendline coming up
Posted by matt on 7th of Jul 2016 at 09:33 am
$SPX - Chart Link
Do you know, statistically, how
Posted by frtaylor on 7th of Jul 2016 at 11:18 am
Do you know, statistically, how often an index (or stock) will hit a resistance trendline like that (flat-ish resistance; not a downtrend channel line) four times and NOT break through? My limited knowledge says when it hits that many times it's very likely to break through.
the more touches the more
Posted by matt on 7th of Jul 2016 at 11:19 am
the more touches the more important it becomes, Tomorrow Jobs report could be that catalyst to pop over it or pullback more.