IMHO, the wretched-looking XLF is headed lower...

Hi everyone, here is the XLF six-month-daily linear-regression (LR) ID chart:

http://www.prophet.n...53456368945.png

Here is the XLF one-year-weekly linear-regression (LR) ID chart:

http://www.prophet.n...53456368945.png

Here is the XLF 6-year-quarterly linear-regression (LR) ID chart:

http://www.prophet.n...21880807047.png

Here is the XLF 5-year-monthly LR chart:
http://www.prophet.n...21880807047.png

Here is the XLF 20-day 15-minute LR ID chart:

http://www.prophet.n...53456368945.png

Here is the XLF 20-day 60-minute LR ID chart:

http://www.prophet.n...48288307664.png

Cheers,

Bob-C

http://stockcharts.c...t?obj=ID1926808

http://stockcharts.c...t?obj=ID1926808

Hi hiker, thanks for the link! Here is the 6-month-hourly XLF ID chart from Trend Channel Magic. The chart depicts XLF breaking down through the latest upward channel.

Here is the XLF six-month-hourly chart from Trend Channel Magic.

http://stockcharts.c...p...23622&r=675

http://stockcharts.c...23622&r=675.png


Cheers,

Bob-C

Bob, I look at the daily XLF and I see an indecision pattern.

my eye refuses to make more of it. I could surmise XLF horizontal basing price action, and the traditional thought is that the longer a price pattern bases horizontally, the more powerful is the price move that eventually develops from that horizontal price base.

cheers to you, Bob..and thank you for the intelligent conversation. I love your willingness to exchange views with thoroughness.

Edited by hiker, 08 January 2009 - 04:25 AM.

Bob, I look at the daily XLF and I see an indecision pattern.

my eye refuses to make more of it. I could surmise XLF horizontal basing price action, and the traditional thought is that the longer a price pattern bases horizontally, the more powerful is the price move that eventually develops from that horizontal price base.

cheers to you, Bob..and thank you for the intelligent conversation. I love your willingness to exchange views with thoroughness.

Thank you very much hiker, I enjoy sharing information and exchanging views with you; it's a pleasure learning from you too. :)I agree with you about flat-base patterns, one of the most powerful break-out patterns is a break out from a long-term flat-basing pattern on high volume especially on a break-away gap. Thank you for all your contributions to this board and to all the boards and forums that you've contributed your time and effort to over the years.

Best,

Bob