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: Shack who wrote (16343)	10/12/2001 11:01:41 AM
From: AllansAlias	Respond to of 209892

I just don't see it happening today. I am sticking to the ending diagonal jello and will only get hosed by a breakout/down.

To: Shack who wrote (16343)	10/12/2001 11:03:24 AM
From: AllansAlias	Respond to of 209892

BTW, the wildcard is the apparent symmetrical triangle in the S&P. I will trust that if it breaks either way and put aside my ending diagonal plan for the moment.

To: Shack who wrote (16343)	10/12/2001 11:10:30 AM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Here's the push to the upside of the S&P triangle. Believers in jello will short it. Bulls will buy the break. Elliott-wise, this would be the 'e' move of a-b-c-d-e and would imply another little down leg to follow.

To: Shack who wrote (16343)	10/12/2001 11:25:37 AM
From: AllansAlias	Read Replies (4) \| Respond to of 209892

Yup. Jello wins (for now). Price now retracing to the bottom of the S&P futures triangle. If it does not fall through, then we'll get one of those setups where price dribbles out the end of a triangle and this signals the worst sort of tight jello possible -- best to stand aside and wait for a significant price move and not get distracted by the wiggles. We are already so close to the apex of the triangle that this is a decent possibility. Following our idea that COMPX might be in an ending diagonal, then we are in the tortured trip to the lower edge of the wedge. It should hit around 1688 before the next swing up.