(Click on image above to enlarge it.)
Here at the weekly level we see that there were numerous Zero Hit sell setups and entries as early as October and November of 2007, coming in at higher price levels than the monthly setup in April 2008. However, when multiple time frames are confirming a setup (as in April 2008), it's even more reliable and powerful.
Therefore, the weekly NMC2 Zero Hit sell setup that comes on the week ending 5/2/08 (magenta arrow) is now in agreement with the monthly Zero Hit setup shown in the previous chart example. This setup allowed for an entry above $48.00, and prices have fallen to near $20.00 before the most recent bounce—more than a 50% decline in six months.
Note also that after the mid May signal, there have been two additional selling opportunities via setups from NMC. The most recent came in late September, along with NXC agreement (not shown), and prices immediately collapsed from roughly $35.00 where the entry was triggered to just above $20.00 at the lows (a 40% decline) in the span of 2 weeks.
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