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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (807)	1/11/2001 9:09:47 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 12411

Good Evening David, The 3 day wiggle is found only on the Futures charts for the Nas and SPX. On Q.charts that's ES01H and NQ01H. They are not perfectly formed on the cash market charts. Also, wiggles are better seen as a Bar not as a candle. The Idea of looking at this pattern as a rising wedge on the 60min chart seems very accurate. At least it can be viewed as a series of bull steps. To me these bars are like psychological signals as to what the buyers/sellers are presenting to each other. The markets may retrace on their enthusiasm today, but should rise now....? Maybe the Nas will put in 3 days of positive highs, something not seen for some time. Take a look at the inverted head and shoulders on the 8 year USA T-Bond Yields Chart, it's a classic and well formed. Looks like the US will have higher T bond rates for some years to come, unless the double bottom for April/Sept at 5'60 is broken.