SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Daytrading stocks and futures
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: pikerman who wrote (1206)12/28/2006 11:13:25 AM
From: Rarebird  Read Replies (2) of 5884
 
Market Fragments:

Russell 2000:

Yesterday's rally in the Russell 2000 was impressive. The pattern is likely a contracting triangle with the rally yesterday completing wave d. However, the Russell 2000 was able to "raise the roof" and pushed the presumed contacting triangle formation higher. That's quite bullish because the apex of that triangle has now been pushed out in time to the first week of February.

Here is my road map: I'm looking for the Russell 2000 to stall out here and then dive in a wave e decline at the beginning of the year. Now, that should get the bears attention and attract some short selling, which should propel the fifth and final internal wave of the triangle. Once the thrust rally gets started, it should be quite explosive and carry into the first week of February 2007. I'll be looking to repurchase once we near the end of wave e.

The alternate would be something more bullish, like a flat correction. But judging from the action this morning, I doubt that's the case.

Stay tuned.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News