Following "S" Days

Yesterday was an "S" day with a large range. The next day typcially has a more narrow range.




7/24/08 is a day with a similar chart pattern as yesterday, and was also an "S" day. The following day was a narrow range day, which tested the previous day's low several times.




Mid-day 8/12/08 to mid-day 8/13/08 also has a similar chart pattern as yesterday. The following period had a bigger range than 7/25/08, but the market still tested the previous low at least once.




Late 7/31/08 had a sell off period, again followed by a narrow range period, which tested the previous low several times.

Oil is currently dropping in price as Fay becomes less of a concern.

Charles