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Strategies & Market Trends : Buying SPLITs and other Strategies
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From: Terry Whitman3/15/2006 11:51:59 AM
   of 1163
 
Just wanted to note the current patterns present in some
major indices:

The SPX and INDU appear to be rising wedges, considered bearish.
The NDX is in a descending triangle, also bearish.

The XAU looks like a broken parabolic, but could also be a bullish flag,
and the XOI is a rectangle in a downtrend (Short term) which would be bearish.

The New highs-New lows is showing a bearish divergence, but the A/D line is still in a bullish trend.

Overall, I'd have to say this looks like a false breakout,
BWTHDIK
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