As usual I've forgotten something as my feeble mind tries to grasp simple concepts in a complex market. The AR following the red/white BC, and subsequent to the red/white ST, should also be labled as the red/white AR. This defines the intial climax range and gives one a gauge on subsequent price behavior.Pruden states that the latter part of the range gives greater insight into the real nature of the range (accumulation/distribution/absorption) compared to the first part, as the intial phase will be distorted by the volatility of the trend that led to it. (This is the natural progression from public influence in a trend to smart-money influence in a range back to the public in a trend.)Therefore any strength/weakness we see since the break of that intial range carries more weight. The nature of this current top is very, very important in relation to the Oct consolidation, my starting point.The Sept low is not a factor yet in this shorter-term analysis...Harold
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