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 : MDA - Market Direction Analysis
SPY 680.73-0.2%Dec 15 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Moominoid who wrote (9106)3/25/1999 7:06:00 AM
From: donald sew  Read Replies (1) of 99985
 
David,

>>>>> Are DecisionPoint trying to draw in an ascending triangle?
decisionpoint.com

I was noting on a recent post that the recent decline hit that trendline they marked A and bounced. <<<<<<

It was an ascending triangle, which was a bullish formation, and within that triangle there was a rectangle. That RECTANGLE was that sideways trading from JAN-MAR in the approximate 1220-1280 range(about 60 SPX points).

An ascending triangle is a bullish formation implying a break to the upside which it did. Since the size of the rectangle was about 60 SPX points, that implied that the upside of the breakout of the triangle could be as much as 60 SPX points. The SPX got to 1320 range so the breakout was about 40 points.

If the recent pullback stayed above the ascending triangle then that would have been bullish, implying a basing pattern for further upside.
Breaking below the top of the ascending triangle basicly implies that such formation did its job and is no longer in effect. Its now history. A more bearish view is that a break below the top of the ascending triangle is negating a positive chart formation, which implies strong negativity, stronger than a normal chart formation.

Im conservative, so I prefer to just take the position that the ascending triangle formation is simply over.

seeya

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

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News