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

To: the-phoenix who wrote (18892)	6/5/2002 4:46:57 PM
From: Susan G	Read Replies (1) \| Respond to of 26752

Phoenix, I'll post the chart I was watching with the flag later tonight... The 30 minute is my roadmap during the day, I watch it constantly.

To: the-phoenix who wrote (18892)	6/6/2002 12:59:01 AM
From: Susan G	Read Replies (1) \| Respond to of 26752

Phoenix, here is the chart of that 30 min flag/congestion the NQs were stuck in all day. And that flag is within a larger rising wedge targeting the next resistance area right above 1200. Any more breaks in the lower line of this wedge and it could morph into a huge bearflag, as those wedges on the dailies did last week. mywebpages.comcast.net That 1187 number was the top of the messy bearflag that had been forming, the 50 EMA 30 which has been so tough to break lately, the pivot of the top of the candle bodies in the evening star doji reversal (which called the top and they usually act as resistance at the doji midline), a breakout of the little consolidation area on 5/3 and an old swing low from early May which you can see on the second chart. When so many different indicators point to resistance in a certain area - especially more than three, that's why I had that 1187 number stuck in my head as a potential breakout/short squeeze trigger. This second is one of my longer term charts that has some support resistance areas I'm watching on it. mywebpages.comcast.net I think the 1202.5-1208 area will be tough, the 20 EMA a broken support area and the last swing low all reside there on this time frame. Also 1220-22. After that it's back in the upper trading range and will probably try to get to 1250. If it can get through all the resistance on all the short time frames that is...