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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?


To: HighTech who wrote (58045)11/24/1998 8:22:00 PM
From: donald sew  Read Replies (3) | Respond to of 58727
 
HiTech,

I have also seen that wedge in the DOW, SPX, OEX, but it is so steep.

Just with plain geometry, if the the DOW was to break to the upside from such a steep wedge, it would really be very close to vertical, as if its not moving that fast already.

Wedges normally take the direction of the immediate trend which is up, but it could also signal a TOP. Tie that with the steepness of this wedge, I would be more comfortable in saying that it is a technical sign of a TOP in process.

This is my interpretation from a technical perspective. Thats a interesting point - anyone care to add to it. Hey LG, care to comment .

Seeya