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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: donald sew who wrote (34606)11/2/2000 11:04:12 AM
From: Paul Shread  Read Replies (1) of 42787
 
Good point. The island is considered a minor reversal pattern, and calls for a complete retracement of the minor move which preceded its formation, so you're right, it completed its predicted move when we retested the bottom. I still see filling those gaps as unfinished business for the NDX and COMPX; I had assumed that filling them meant we would continue up, given that they were part of a reversal, but we'll see.

I still see lower lows ahead for the COMPX, particularly given the rising wedge already forming in the SPX, but I don't think it's going to happen for a couple of months.
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