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

To: skinowski who wrote (127446)	12/24/2005 9:58:10 AM
From: Henry J Costanzo	Respond to of 209892

<<.. the only problem I have with that chart is that the upper line must begin from the top of your (big blue) "1"....>> No problem, SNS.....I was going to draw that in, but thought it might complicate the picture too much.....Basically, I am looking at that line........and I think it is being slightly overshot....and will be overshot by a larger margin down the road.....as we get to the final high.. I see no problem with such "overshots", which I think are still consistent with the view that we are dealing with an ED top formation. At the same time, seemed to me valid to draw in that channel parallel to the 2 and 4 UT line..... simply as a means of assessing the possible area of the final high. As indicated on the chart, I am not looking for the market to top in this year........could go a number of months into 2006 before a top.....