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Strategies & Market Trends : Classic TA Workplace

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To: skinowski who wrote (125309)	10/22/2005 9:43:45 PM
From: skinowski	Read Replies (1) of 209892

XLE.... Could be an ABC, with the "C" looking rather wedgy it seems this is still in play. On Friday XLE bounced off the upper line of the above mentioned putative wedge. If Friday's high gets taken out, that might be pretty bullish for this index --- at least in the short term. It depends - If the orthodox top was on September 22, then the entire decline was NOt an ABC, but rather an impulse. stockcharts.com[p,a]eaclyyay[d30][pb50!b200][vc60][iub14!la12,26,9]&listNum=1 Note the clean impulsive decline on XOM: stockcharts.com[p,a]eaclyyay[d30][pb50!b200][vc60][iub14!la12,26,9]&listNum=1 But, to keep things interesting, tell me - why couldn't this entire formation on XOM since last February turn out to be a Flat? stockcharts.com[p,a]daclyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G

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