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Strategies & Market Trends : Chart Formations -- Ignore unavailable to you. Want to Upgrade?

To: sean sanders who wrote (275)9/19/1999 4:04:00 PM
From: Casaubon  Read Replies (3) | Respond to of 967
 
Sean,

does ETN look like it just put in a couple of bull flags on the weekly scale
iqc.com

That hi volume hammer looks like it found some support. Maybe this thing is going to put in a bearish rising wedge top. I'm just speculating. I was actually following ETN and was surprised how it jumped off of support.

Although, it sure looks like it's flying some bear flags on the 60 minute chart!
iqc.com

I think you're right though. It looks like it closed that gap down on light volume, and some options expiration funny biz, maybe.



To: sean sanders who wrote (275)9/19/1999 9:57:00 PM
From: Cola Can  Read Replies (2) | Respond to of 967
 
Right now it looks like it will form a nice H&S.

An upside down H&S? I can see that happening, but that
is more of a bullish pattern isn't it? In a book I have,
TA from A to Z, it talks about a "bull trap", where prices
move back up, after a breakout, then back down.
For myself, I'm going to have to watch it a few days to see
how things develop. The volume went down, as the price went
back up. I think this indicates a bearish outlook.


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