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Strategies & Market Trends : MP - Market Pulse

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To: HairBall who wrote (435)	7/10/2001 9:22:25 AM
From: JRI	Read Replies (1) of 1328

"While the COMPX price off yesterday's opening low formed a rising wedge, it should be noted it is not unusual for a pattern to be negated at a trend reversal. That wedge is an important key..." LG- If I may, can I ask you about this statement...? You say that the wedge is an important key...but the wedge looks broken now....in what respect is the "wedge break an important key", other than to delay the down (that you and many still expect)? In an earlier post, you basically said 2120 should contain any advance, and we haven't even closed gap yet (wait for that). (Statements, btw, I would agree with)... Also, "it is not unusual for a pattern to be broken at a trend reversal"...I guess I didn't understand this statement....are you saying that the trend is now down, and it is not unusual for the wedge to break UP? or...what am I missing... Thanks in advance for any explations...

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