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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: bcrafty who wrote (81017)	9/10/2003 6:31:10 PM
From: skinowski	Respond to of 209892

Looking at the IDU utes I-shares on your chart, I see a possibility of a bullish read. The move from October to January is readable as an impulse (W1 or C). The decline into the Feb. low looks better as a zigzag (2 or B). The rally towards the June top was 3 or C (or part thereof). The decline to the recent low on August 6 was hard, but retraced just about 50% of the preceding advance, and could have been a correction. The advance since August - IMO, has the potential to go either way. The support line on the hourly is at 52 1/4. The stock should stay above the $51 - 51.50 level. Thanks for bringing IDU to my attention. It looks like a nice way to track utes. Volumes are a little to thin to trade it, but it could be used for longer term positions. Yields 3.2%. stockcharts.com[w,a]daclyyay[pc8!b5][vc60][iLp14,3,3!La12,26,9]&pref=G