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Strategies & Market Trends : Classic TA Workplace

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To: Galirayo who wrote (136609)	9/21/2006 1:08:04 PM
From: stkboy1	Read Replies (4) of 209892

Perhaps it is still early but the transports have taken out yesterday's low, this mornings low and may even head towards Tuesday's low. If we get a bearish engulfing candle today,I would have to think that would confirm the shooting star and negate the hammer reversal. Currently the index is trapped between the 50ma and 200ma and between those two moving averages appears to have a possible broadening chart formation??? You have to squint to see it on the daily but it is fairly clear on the hourly...vbg

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