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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Doo who wrote (6235)5/25/2005 2:37:47 PM
From: Chip McVickar  Read Replies (1) of 12411
 
Yup... 2 sunny days in the last 26...!!!
Medium temps the same as Nov or Dec...!!!

>>Define your view of "island"<<

Well... looking out over one of those fast running Vermont streams... you see a big boulder with water either side.... just right for getting across.

In the Index charts these stepping stones are islands.

The TA masters get fancy by naming'em... common, breakaway, runaway, measured, exhaustion, islands... yup, their brains are so filled with the alfabet they get lost... but to me they're just stones left in the current waiting to be recrossed.

So I pay litte attention to Island Reversals...
There just there to be recrossed... but by then the water going by is completely different... changed entirely.

But they do tell me some players got across the stream.

IMO... FWTWTY... the 130m June contract shows two unclosed gaps with a stepping stone in the area of 1175.
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