Here Are Two Cycles You Need To Know About
I don’t remember who
said it. It could be Larry Williams. Anyway, this person said, “There
are only two cycles in the market, a wide range cycle and a narrow range cycle.”
It sounds somewhat too simple, but Haggerty’s Slim Jim works on this principle,
too.
12:27:34
On its 3-minute chart, Medtronic (MDT)
is forming a narrow trading range at the day’s high. MDT is up 0.22 at 49.70.
Not a spectacular gain, but after resting in a narrow trading range, Medtronic
(MDT) gave us a quick 20-cent profit. A trading range is boring, but don’t
forget it will not last forever.