Today we're going to use Zone Analysis on the 15 Minute Chart. As you can see, we've had two candles enter the Pink Zone. History tells us we'll need to have at least one candle blast through the Brown Zone for a triple digit finish. On the other hand, if we see the SMI Ergodic Indicator tighten up, the Brown Zone will be almost impossible to penetrate leaving us with a sideways or downward pattern. We understand most people think Zone Analysis is unreliable, possibly even a little fishy, but we only use the original Formulas and Zones as intended by the original inventors. Today we're calling for a definite move up, or down (or sideways).
Comment:
If we don't see volume pick up on the MACD 20 day, it would be a shocker to reach triple digits today.