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

To: Henry J Costanzo who wrote (139528)12/18/2006 4:22:50 PM
From: bcrafty  Read Replies (1) | Respond to of 209892
 
mc, "always dangerous IMHO to make too much of wiggles"

I completely agree, but try telling that to very short term traders <G>

For a non-wiggle chart to keep on your watchlist as a potential pennant check out this weekly on ISRG. It appears to have been forming a triangle most of this year and, depending on how one draws the lower trendline, a buypoint would be somewhere in the 94-98 area.

stockcharts.com



To: Henry J Costanzo who wrote (139528)12/18/2006 6:10:14 PM
From: Shack  Read Replies (4) | Respond to of 209892
 
I know I haven't posted market stuff in a long time so you may think I'm out to lunch (-g/ng) but I would be leary to go long much here based on the $RLX which sure looks like it completed an ending diagonal over the last few months. No doubt this market is extended and its only natural to look for signs of a pullback, but that ED looks awfully pretty. Its just one sector, but its been one of the leaders.

Early days yet, we'll see.


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