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Strategies & Market Trends : Raptor's Den II -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (1409)	11/14/2003 2:46:11 PM
From: velociraptor_	Respond to of 3432

an ascending wedge is a triangle formation which is a corrective pattern. The prior trend is usually up and will break up. Like it says: As the pattern develops, volume usually contracts. Falling volume is corrective. I am done on this issue.

To: Kirk © who wrote (1409)	11/14/2003 2:48:35 PM
From: Andrew	Read Replies (1) \| Respond to of 3432

Message 19488044 Rising wedges are not a bullish pattern. It is a bearish pattern. This market is not trading in a rising triangle or pennant formation. Rising wedges always break to the downside. Falling wedges always break to the upside except in bankruptcy cases. Dont think I know TA check the header on the subject I started, been calling gold bottoms and tops to the dollar and day months in advance. Subject 54201 I have been wrong in the past but IMVHO this market is about done. SP500 cannot go over 1075 without a correction of some kind.

To: Kirk © who wrote (1409)	11/14/2003 7:21:24 PM
From: Joe Smith	Respond to of 3432

This is not an ascending triangle. It is an rising WEDGE. Just use common sense. Does common sense tell you that the market has repeatedly been stopped at resistance or has it constantly been breaking resistance and setting new higher highs? Let's be real. The tops have been trending up. If not, bulls wouldn't be so complacent which is the effect of the wedge that makes it so potently bearish. Buy the dips, hold for new highs. Ride the wedge....Until it breaks. Just make sure you take some profits when it breaks so you are not left holding up the pyramid scheme.