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Strategies & Market Trends : Waiting for the big Kahuna
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To: ViperChick Secret Agent 006.9 who wrote (16003)4/10/1998 9:30:00 AM
From: Atom Ant  Read Replies (4) of 94695
 
<for one not familiar with Edwards and Magee....can you tell me what the pattern means>

Looks like a symmetrical triangle could be developing. Sym triangles can be either consolidation or reversal, can't tell until breakout. In the late stages of a major trend (are we there yet?!), it favors reversal.

But, it could also still turn into an ascending triangle (with another SPX run to 1132), which would be bullish.

Jury still out.

AA
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