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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (15272)	4/9/2002 3:31:38 PM
From: milesofstyles	Read Replies (2) \| Respond to of 26752

pg my 2c with a penny rebate...it looks like a sideways consolidation, usually... they break in the direction of the current trend. i posted a chart under stockwerx5. click on the link to see pg. i've drawn in what appears to me to be an upper channel that seems to be holding it back. i also added an orange dotted horizontal where i would guess the bottom of the consolidation is. i've also included two uptrend lines you can monitor, one accelerated and one as the low end of the large channel. i don't think you can put a lot of weight on volume based indicators during a consolidation, volume should be dropping off during such a period i guess. fwiw, i still have acc/dist above a 30per moving avg, hope it helps. chartwerx.com milesov

To: j g cordes who wrote (15272)	4/10/2002 8:14:28 AM
From: Susan G	Read Replies (2) \| Respond to of 26752

PG I know it's up in the clouds, like so many other dow stocks, but that's a pretty perfect bullflag on the daily... It broke out of it yesterday and then closed back inside, which could have been a bulltrap... Declining volume confirms bullflags usually, but lately many have been breaking down instead of up. You can see the flag really clearly on the weekly too. Looks fine unless 88 breaks, as that breakout point should hold as support. If it doesn't it may make a great short if the DOW drops further. The daily ADX is confirming the strong uptrend...