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

To: skinowski who wrote (123786)	9/8/2005 3:39:47 PM
From: bcrafty	Read Replies (1) \| Respond to of 209892

ski, SINA is a bit of a tough read here I've tried but I can't get a comfortable E-wave read on the decline since the March 34.25 high. stockcharts.com[w,a]daclyyay[dd][pb50!b200!f][vc60][iLb14!Lc20]&pref=G The decline of that period appears to be a triangle, and it's only a point or so away from testing its LT. The fact that it hasn't participated in the recent bounces of the major indices makes me highly suspect of an upward break, and today's move below the 200 sma is not helpful to the bull case at all. Right now some indicators say it's due for a bounce (and some are not quite there yet), so let's see what happens when it gets to the LT of the triangle, currently around 26.25. My gut tells me that the bounce from the August lows was an earnings-related bounce that has since petered out, and that further downside lies ahead (and that it might be months before a sustained uptrend). Although things might change, my guess right now is that it continues down and will fall out of the triangle.