Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Clappy who wrote (4872)	6/13/2001 4:17:18 PM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Yup, that's a popular interpretation these days and is valid. I am holding off on updating long-term counts. You guys know I rush into action when there is a nice move. Until then, it's all just so much jello and not worth one's time to publish. In general at this stage, I am very skeptical of any widly bullish counts.

To: Clappy who wrote (4872)	6/13/2001 4:31:48 PM
From: JRI	Read Replies (1) \| Respond to of 209892

Clappy, here's the verbatim from the Murphy bible: The descending triangle is just a mirror image of the ascending, and is generally considered a bearish pattern. The pattern indicates that sellers are more aggressive than buyers, and is usually resolved on the downside. The downside signal is registered by a decisive close under the lower trendline, usually on increased volume. A return move sometimes occurs which should encounter resistance at the lower trendline. The measuring technique is exactly the same as the ascending triangle in the sense that you measure the height of the pattern at the base to the left and then project that distance from the breakpoint. The Descending Triangle as a Top While the descending triangle is a continuation pattern and is usually found within downtrends, it is not unusual on occasion for the descending triangle to be found at market tops. The Volume Pattern The volume pattern in both ascending and descending triangles is very similiar....volume diminishes as the pattern works itself out, and then increases on the breakout. In the descending formation, volume shoudl be heavier on the downside, and lighter in the bounces. Time Factor A triangle that lasts less than a month is probably a different pattern, such as a pennant.. My note: All we have to do now, is to figure out if your triangle IS THE DOMINANT PATTERN HERE.....ng