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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Terry Backlund who wrote (11935)2/5/1998 11:41:00 AM
From: Doug R  Read Replies (1) | Respond to of 79302
 
Terry,

ALSC is pulling one of those darn pennant things here. Once it has some definition to it, a buy signal comes when it breaks up and a sell signal comes when it breaks down. Usually, a close on the line that defines the uptrending part of the pennant leads to a break down. That makes a good early warning. A close above the line that defines the downtrend of the pennant needs good volume on that day to denote a break up.

Doug R


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