Wednesday, May 16, 2012
domed house update
quite some time now.
I am sticking with my interpretation of the December 2011 reaction low as point 14 and the start of the first story of the domed house. As a rule one can expect the top of the domed house, labeled as point 23 in the schematic above, about 7 months and 10 days from point 14. There are times when this count should be taken from point 10 which here is the October 4, 2011 low. That would have put point 23 yesterday and so is obviously not a very good fit here. I think it is more likely that we are seeing the roof of the first story developing - points 15 through 20. Then point 23 is due toward the end of July.
If you want to learn more about Lindsay's 3 peaks and a domed house and like having it explained to you step by step with lots of historical examples you can buy a 50 minute presentation of the whole theory on DVD from Ed Carlson, author of George Lindsay and the Art of Technical Analysis. The DVD comes with extensive cover notes describing the main points of the 3pdh and you will find it a handy reference guide.