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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: donald sew who wrote (28899)9/1/2000 11:25:48 AM
From: Paul Shread  Read Replies (1) of 42787
 
I've been looking at 150-period hourly charts today and have a number of observations. The two easiest are on the NDX/COMPX. It looks like both turned back just below the upper boundary of their wedges this morning if you make one adjustment: throw out the 8/9 peak on the COMPX as an aberration and draw the line starting with the two peaks before that, touching on today's intraday high. The NDX is much clearer.

If you throw out the wedge breaches on the SPX and redraw the lines to include the new peaks and valleys, we still have a rising wedge. If you do the same on the OEX and the Dow, you have parallel trendlines. My question: would you retain the old wedge lines on those three indexes, or redraw the lines to encompass the breaches?
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