Sorry, but those "trendlines" are not drawn properly. They seem to be placed where you wish them to be. And are they semi-log charts or linear???? I don't have time now but I'll post the proper trendlines for the indexes soon.
If the Y2K high is significant, why did only one of the several widely followed US indices stop near it? Nasdaq, Dow, Russell...all had '07 tops a long long way from the '00 tops. Not asking that you believe it - just keep an open mind.
I don't use log charts and you're right - I pretty much put the line where I thought they looked good, just my attempt to keep it simple...............usually I use even thicker lines for longer time frames. Steve
Our work is similar. I recently posted here that out of the dozen or so people I've shared my stuff with in the past few years only 2 expressed any continued interest. Weirdly they were two of my smarter friends. Without doubt the market is cycle/fib/measured driven and violations of the "playbook" provide follow through. Shortie: I get your point but yea sometimes you just need to suspend logic. After all the Dow found resistance at around 1000 perhaps a dozen times in a 17 year period. Different components, 5 different Presidents etc......
Seems a good question to test is whether following that bearish fractal under- or over-performed a selection of arbitrarily chosen alternative bearish fractals.
You are not as dumb as you look PasPrime: I now think you may have some sparks in that heavy piece between your shoulders. You are close to understanding, but not there yet. Progress the good work.
Good point! T/A is not always so as clear as the beautifully clear and long term double top on the S&P. Just depends on one's time frame and interpretation.
Provided that you don't step on sidewalk cracks with your right foot on even-numbered calendar days. It's all really quite remarkable, isn't it? P.S. What's your favorite chant?