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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (36315)	8/13/2012 4:34:34 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 223384

Yes, that's very true... the concern now is that this pattern between the resistance line and the support line is really a bearish wedge... there is a rule about wedges that they never really complete the wedge pattern all the way to the end point, but that about 65% into the pattern the market typically breaks out of that wedge, look at other wedge type patterns and you'll see that to be the case... So, at this moment, it looks like the break out might be higher, but so far it hasn't broken out in either direction... so I suspect the time is getting near, this market should be watched very closely... GZ