To: Findit who wrote (34444 ) 1/10/2003 9:58:05 PM From: NW_Trader Read Replies (3) | Respond to Hi Jim,Trading Classic Chart Patterns for discussion of all 4 double bottom formations -- and the past 3 issues of TASC have covered all except the Adam and Eve which should be in the Feb issue. However HLIT failed to take out the confirmation level at the end of Nov and traded back down to a 50% retracement. Thus the bottom TL that has been set up since early Oct (on daily chart) is now at 2.5 and next week will be above that level, which otherwise would be a good area for support but taking out that TL may not make for a good trade. A retrace early in the week to about 2.6 would satisfy most fib levels and not violate the TL, but if the markets continue excited I'd look for it to continue up Monday - note the volume pattern building support. It's at overhead resistance for the third time (3 test rule of Master Zeev) and could break on thru towards 5 (a brief pause there).
