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

To: NOW who wrote (121268)6/29/2005 4:30:59 PM
From: Shack  Read Replies (2) | Respond to of 209892
 
Yes, I think that's very possible and very likely. Lets look at this from a straight classical TA perspective:

NEM has a potential inverse H&S on the daily charts,
It had a low volume backtest of the putative neckline,
Now we have a big long candle off the backtest.

That's a good set-up and well worth getting in on.




To: NOW who wrote (121268)6/29/2005 4:51:55 PM
From: Shack  Read Replies (1) | Respond to of 209892
 
Forgot to mention that I do find a couple of bearish charts in that sector which are concerning me, both BGO and KGC have rising wedge patterns on their dailies and they will likely have to hound if the sector is pointed up.

While I like the NEM set-up, and even like the POG chart, I just don't trust that sector. Its hard for me to get long there, it may be my loss.


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