Why the markets will continue higher... Message Board

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Strategies & Market Trends : Why the markets will continue higher...

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To: GROUND ZERO™ who wrote (543)	1/20/1998 7:40:00 PM
From: bearshark	Read Replies (1) of 745

Hi GZ: Here is something you might find amusing. CSCO appears to be ready to break out of the top of a symmetrical triangle (coil). The volume was not perfect as the pattern formed but it still looks valid. As it is approaching the top of the triangle, volume is now increasing. It had a fine day today. By eyeballing the pattern it looks like a 4 or 5 point pop on higher volume is required to confirm the move. What strikes me as amusing is that we have a 50+P/E stock trying to break out and move higher. I wonder where it thinks it is going.

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