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 : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (179)	4/8/2008 8:28:06 AM
From: Stoctrash	Respond to of 3209

Alan, All this is telling you is the lower blue tine is magnetic for the price, it's in control. Prices move way, but not far then are drawn back. It's telling me that the weekly uptrend is intact. Now run a parallel or fib ratio parallel line to the tines on the outside (or inside). This parallel line that is not draw, but by eye shows me about 86-87 is the magnetic target on the downside, yet still be in a longer term uptrend. When the trend peters out...you can usually get forks that hold price...but often it is the intraday's that are what I call "in control" and hold prices in time and space. So basically, Stay In and look for prices to be drawn back to or above that 100 level. ST, you could say bullish looking for that move. ~86 being a critical level of support.