S,
The market at large is the major concern for any current breakout. Ocote posted what appears to me to be that the market is "considering" a reversal of the sell signal. I haven't checked it myself yet but I know Ocote is very competent. I posted on Sunday that the market was hinting at reversing the sell signal but it would take a very strong week to do so.
ELGT is on track. The base it's setting up here can now be used as a barometer to go by. There are some good lines to it that will allow one to judge whether the breakout will be a success or a failure. This is the "fun" part.
It appears to me that the 21, 13, 13 stochastics is the crux here. That indicator is dependent on how the 2, 1, 2 the 3, 1, 2 the 4, 3, 2 and the 13, 8, 8 perform going forward. An unrelated but very useful parameter set is the 7, 3, 10 which looks very good at this time. There are no sell signals at all, either technically, chartwise or fundamentally so the trend and breakout are, as far as I'm concerned, quite reliable now.
Doug R |
