Below is 5 year weekly chart, clearly showing that the main reason OEX has been lagging the other major indices is the fact that it is up against the long term channel top line pressuring the index for almost 2 months now ! This chart shows the next possible target on the downside is 648.
And below is a one month daily chart. Note that daily closes within the megaphone has the clues about the direction of the breakout.
Below is 10 day 30 minute intraday chart showing the megaphone or expanding triangle formation in detail.
and of course smart money has already been positioned for it (this chart is from yesterday which is not much changed)
Edited by xD&Cox, 08 February 2007 - 04:58 AM.