Originally Posted by waddy41
I don't think you really know what blow off top means...especially when you are using a 20 year chart
Well I don't think YOU know what a blow off top means.....Espexially when ignoring a 20 year chart.
Let's look up some definitions !......Although which one one chooses MIGHT merely reflect one's own personal bias - but ?......Perhaps though - maybe not.
So far out of the 3 which I've just read, two fit quite nicely, my ASSUMED definition.....
1) . A blowoff occurs at major market tops when prices suddenly stage a sharp rally after a long advance. Trading volume and open interest rise sharply.
.....Has Telus NOT staged a long advance, and did it's price not just suddenly stage a sharp rally ?
2)A blow-off top refers to an extremely fast spike up in a stock's price, followed by an extremely fast and severe drop in price. A blow-off top may be found on an intra-day chart, a daily chart, or even a weekly or monthly chart in some cases. A blow-off top may be found on individual stock charts or on the charts of indices. A blow-off top is generally seen by chartists and technical analysts as an indicator of future market actions, although different technical analysts may view the significance of a blow-off top differently. For many technical analysts a blow-off top indicates a major resistance level; and while many technical analysts may consider a down-trend likely following a blow-off top, a subsequent penetration above the level of the blow-off top would be considered extremely bullish.
At any rate without getting too much into it (you don't seem to be worth my time - what w your attitude), you clearly missed my point - and my definition - of what I titled Telus' "Blow Off Top", and the reason(s) for my doing so........Namely :
That Telus' recent 3-day 3.5 percent spike up, was merely......a last gasp effort to hit it's upper (widely accepted under TA charting Principles) upper Resistance Level.
Here let me show you again what I mean - by Upper Resistance Level ;
Now, whether I'm wrong or right I believe, that it's well within my perogative (or right),
to define such a thrust as a Blow Off Top......
without some little snotty nosed (as your avatar aptly conveys), impish remark from you
Thank-you very much
We can see that you've posted four times in 2013 and that two of them are barbs aimed at me
In fact ?.....Why I believe it's within my rights so much, that
I'll even say the same thing here about the Royal Bank's recent chart action ;
BOTH a last minute gasp to "hit their Resistance Levels"