amigo
xng,
bigcharts.com
for anybody that reads this, draw the lines. never rely on my values. in all likelihood, they could be wrong...but i bleev the integrity of the lines to be intact...i may hafta attach this disclaimer to everything i post from now on, lol.
lets treat this as a play on the index...i'll try to get to the stocks as well...(found that little button at the bottom that sez, "view stocks in this sector" or whatever, doh!)
you should recognize the pattern from 8-96 to 7-98 as well, looks like a neckline around 150 area, the head and shoulders played itself out fully late july 98, targets were pretty close, so 150 i believe to be a general key area. on the daily starting june 7 across the tops to july 16 looks like the consolidation of the large move that preceeded(sp?), its a decent consolidation with recent activity to the upside of it(verify!!!).i'd call the channel lows 6-1 to 7-28. typically, the move above a channel is equivalent to the width of the channel, roughly around ten points off the move of the upper channel. the upper channel would probably be a pretty safe stop. below that upper channel, 150ish, and then support on the lower channel which is working its way towards 150 currently. its very interesting to see the downtrendline at the head to the right shoulder coming into play with the neckline while the channel has been forming. at this juncture, assume the move off the upper channel occurs and it hits the mid 160s, the possibility of the line 5-4 to 6-7 could be the cause for another consolidation and should coincide with the channel bo target,as i see it, verify. that's the last line i see until around 190 and by the time it occurs those lines will probably be out of range to allow for new hi's. the first step is the move off the upper channel here, 2nd step, see how it responds to the 5-4 line.
btk, yep, bo, i'd probably use the tops 6-7 to 8-2 as the target on this one. the underlying stocks should be worth checking out and i'll try to get to them before monday. as an index trade, i'd use thursday low as the stop.the reason being, the acceleration appears to start on the low of 6-15, that's where support should come in if it lost thursday's low. i'd rather be wrong by a little than alot, lol.
xoi isn't out yet,so i'm not quite "bullish" yet. nothing's changed yet, all three stocks are still on the verge, but not out yet. another upday monday should be the start of things for them and probably a preindication that the xoi channel will bo upside. targets are still the same as mentioned.the line across the tops 5-4..7-15 is the key on xoi imo.
milesov |
