Looking at the "Yes" Pattern
Posted: Wed Oct 08, 2008 9:13 am
I think I'm understanding it better; take a look at the attached image of a Yes pattern on corn from Section 1.4, Lesson 4. The yellow line you drew locating the weekly 5/9 Up on the daily chart straddles the end of the first week of March and the beginning of the second week (last two bars on the weekly chart).
Look at the progression of PLdots relative to the 11 Dots march up the Wed-Fri bars (marked with a yellow box). Besides the higher closes, doesn't this relationship of the two dots tell you that the internal dynamics of the market are rising?
Aren't the higher closes the mathematical reason why the 11 Dots are rising at a faster rate?
Although Monday, Mar. 10th, would have begun with a new, significanly lower weekly 5/9 Up to contend with, the 5/9 Up from the week before (marked Y1) proved to be still active, as shown by the daily 5/9 Up on Tues located there.
It held for the second day on Wednesday with a 11 Low and what looks like a Refresh to close at the high. This was followed by a 5/1 Up for Thurs. and a PLdot Push on Fri.
Is this analysis correct?
M.M.
Look at the progression of PLdots relative to the 11 Dots march up the Wed-Fri bars (marked with a yellow box). Besides the higher closes, doesn't this relationship of the two dots tell you that the internal dynamics of the market are rising?
Aren't the higher closes the mathematical reason why the 11 Dots are rising at a faster rate?
Although Monday, Mar. 10th, would have begun with a new, significanly lower weekly 5/9 Up to contend with, the 5/9 Up from the week before (marked Y1) proved to be still active, as shown by the daily 5/9 Up on Tues located there.
It held for the second day on Wednesday with a 11 Low and what looks like a Refresh to close at the high. This was followed by a 5/1 Up for Thurs. and a PLdot Push on Fri.
Is this analysis correct?
M.M.