5 replies to this topic

[Stickan]

Just if you have not noticed. 1) Break out on the "wrong" side of an 2) Abslolutely perfekt rising (bearish) wedge 3) After a downside failure break Is one of the most bullish signs you will see - EVER!! I have NEVER seen anything so perfect as this one. 4) And it's at this years most important long term resistance. 5) At Equinox! The train is leaving the station..... .

[TechMan]

Is one of the most bullish signs you will see - EVER!! I have NEVER seen anything so perfect as this one. And it's at this years most important long term resistance. At Equinox! The train is leaving the station.....

If you meant something like this breakout back in October of 2007, before the market began to unravel, yes, the train's definitely leaving the station... Although not absolutely required, the lack of "explosive" volume made this a suspect. Today's NDX volume's the lowest in 5 days.

Edited by TechMan, 21 December 2009 - 07:06 PM.

[Stickan]

It's evident that we do not have the same standards when it comes to perfection. But if it works for you - fine........

[TechMan]

It's evident that we do not have the same standards when it comes to perfection.

Yes, we don't have the same standard because my "near" perfect textbook breakout would be accompanied by the surge of volume. But, you may be right. We'll just have to let it play out then.

[nicolasillo]

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Edited by nicolasillo, 21 December 2009 - 07:51 PM.

[fib_1618]

The daily volume pattern is not at all consistent to a broadening top formation. Fib