Sunday, August 12, 2012

Cooper rule 4 ?

Jeff Cooper wrote a book called "Hit and run Trading" that says "on the 4th time that support OR resistance is tested, it will finally break". The Dow has tested the yearly R1 pivot point(13,310) 3x times last spring. We are only 100 points away from a 4th test and new high of the year. Or will the monthly R1 pivot point(13295) be resistance again?