Thursday, November 17, 2016

The DB post 11-17-16

A direct quote from Armstrong

"The timing Array in Deutsche Bank has been targeting September all along. There are back-to-back Directional Changes for September October and the next main target for a turning point is November. The Panic Cycle played out on time for September as well. This all warns that if last week’s low holds, a bounce into November becomes possible."

Obviously, we hit that low in September, and did rally into November.  We exceeded the 15.50 but never hit the 17.90 which he said was the maximum price it could hit.  If it did hit that, I'd feel a little better about shorting. 

There is a lot of November left, so I'm not sure if we've hit the turning point yet.  The weekly's usually turn between weeks, as do the dailies turn between days. 

But also look at this chart, this downtrend since 2013, along with the 50-week MA are converging, that seems like it would make for good resistance.

It also makes a sell signal on the daily chart. 

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