Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (9248)	4/5/2008 8:29:25 PM
From: Hawkmoon	Respond to of 33421

A truly interesting chart!! I drew up a quarterly chart for the DOW some time ago, and perceived the semblance of a Cup & Handle formation being created, our being in the handle formation phase now.. bigcharts.marketwatch.com So a proper C&H should require a retest of the "rim" of the ladle, which corresponds to that 10K DOW price your EW analysis perceives is likely. But god help us if that handle breaks down. We all know what happens to failed C&Hs.. However, I think that retracement will be a few months off as those Bollinger Bands are pinched together by reduced volatility for the remainder of this quarter (input monthly data for bollinger band envelopes. Also note the Monthly stochastics are turning north indicating the oversold status we're currently in and the likelihood of trying to retest 13K (and maybe even 13,500 before rolling over for the next leg down). Basically, we're in the eye of the intermediate "storm", catching a bit of a breather. Hawk