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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: bowledover who wrote (896)	7/29/2001 1:39:54 PM
From: Vendit™	Read Replies (1) of 8752

A look at the $COMPX. 6-month chart shorts a continued down trend with lower highs made on each of the past 3 upturns. angelfire.com A closer look at this latest upturn on the NASDAQ shows additional room to move to the upside over the next few days. Neither slow Stochastic nor Williams show a top forming but both are nearing the upper ranges. Note the bending of Williams on Friday. angelfire.com By drawing the upper and lower trend lines you can see that the expected trading range is getting narrower between reversals. The two trend lines are forming a pennant. Eventually the $COMPX will break out of this range with a decidedly larger % move in either direction. Logic say up will be the direction of that move but it is too early to tell at this point. angelfire.com In the above chart I also added an upper trend line to the stochastic waves to show the declining trend there as well. I drew the above chart using a new chart tool, which I’m going to link in this thread’s header. cbs.marketwatch.com

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