Ep. 369: Market Predictability with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Reality of Trend Following Trading
The Shanghai composite got absolutely obliterated from mid-June through mid-July, losing roughly a third value in less than one month. While the crucial Chinese benchmark had managed to rally for the past couple of weeks, Colin says that the pattern created by the rebound is actually quite negative, not positive. If the gigantic decline in June, he used the rising wedge shape rally in July, this is the rising wedge, as nothing more than a bearish consolidation pattern where the Shanghai composite was merely marking time before its next leg down.
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