1 reply to this topic

[redfoliage2]

NDX developed an Expanding Triangle (ET) since mid November 06. It's right at the top of the ET. The bad news is ETs usually resolve down and the IT downside target appears to be at 1675. In addition, it got a RSI negative divergence:

http://stockcharts.com/c-sc/sc?s=$NDX...9803&r=8600


Same thing with SPX, RUT:

http://stockcharts.com/c-sc/sc?s=$SPX...3307&r=3460

http://stockcharts.com/c-sc/sc?s=$RUT...9023&r=2641

Edited by redfoliage2, 09 May 2007 - 02:38 AM.

[thespookyone]

If you are looking for reverse symetrical triangles, like the ones you found-pick an index, it is uncanny how many are almost identical, and at the top of the triangle. No, it isn't a problem, just trade it down to the lower right hand corner of the triangle. Spooky

Edited by thespookyone, 09 May 2007 - 06:16 PM.