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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?


To: Chip McVickar who wrote (15784)5/19/2004 4:52:56 PM
From: Michael Watkins  Respond to of 208031
 
Was just writing that so far in the big picture its been a minor 3 bar retracement on the monthly charts; really, its a bull flag in bigger time frames even though it doesn't feel like it.

Agree with your 50% retracement comment if the range low doesn't hold. Then it won't be a bull flag on the monthly either.

While the monthly remains in a solid up trend, there is a change of trend on the daily so far. Which is why I am remaining defensive for now.