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Strategies & Market Trends : TA setups-ex th traders -- Ignore unavailable to you. Want to Upgrade?

To: thresholdreject who wrote (5304)	1/17/2005 11:19:51 PM
From: cthruu	Respond to of 7682

Yes. I posted rounding bottoms over short term. However look at any chart and you can make an argument for a left side of the neckline forming, rising into left shoulder. Dec high becomes a head. You will also see similarity to individual stocks I had posted before like CAKE, DRIV, CKFR, etc. Breakdown of those guys can be looked at as a break from the right shoulder. Look at SPY, DIA, NDX, QQQQ, COMP, RUT, etc...all of them. If they roll over before taking out Dec high then the entire market will be making a large H&S top. They already broke the wedges making heads in December. Now the shoulders can break on upside - in other words, dislocate. If they break on upside with conviction, they will take out December highs. Until December highs are taken out, one must play with caution. Broad indices all look like they are moving in unison. This is one time when WE WILL HAVE TO LET THE MARKETS DO THE TALKING AND WE WILL HAVE TO LISTEN TO THEM. This is no time to be a hero :)