Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (11186)	12/9/1997 9:49:00 PM
From: jeff wheatley	Read Replies (1) of 94695

Hello Bill - I wonder if you would comment on a couple of chart formations. I've been watching a pennant winding up on the COMPX and yesterday it appeared to breakout only to fall back today leaving an island reversal. Are there any strong implications that can be expected should a downside penetration of the triangle occur? This looks like pretty tight coil. Also, looks to me like a descending triangle on the SOX. If support is broken, how far the next leg down. Finally, if these formations break down, do you see a continuation of the correction with a downturn of other market indices. I've been following this thread, along with the Idea and Mohan thread for quite awhile. Always enjoy it. Lots of well reasoned argument by seasoned traders..........jeff edit: BTW anyone have any ideas, please comment.

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