Understanding the Double Reversals

DJ1987-w

 

The DOUBLE WEEKLY BEARISH REVERSALS we had at 286.10 on the S&P 500 futures back then were generated from the same HIGH. This is different from two separate events generating the same number. This we do not call a DOUBLE Reversal, just a very important Reversal. To generate the same number twice from the same event is EXTREMELY RARE. Nonetheless, generating the same number two or even three times from separate events is much more common.