4 replies to this topic

[eminimee]

http://stockcharts.com/c-sc/sc?s=$NASI&p=D&yr=3&mn=6&dy=0&i=p22744300113&a=36757921&r=9382.png

[NAV]

Tea,

I don't beleive in the utility of Pitchfork. But, here's another view...

[NAV]

Here's another view. Look at the first pitchfork. Neither did the price reach the upper prong of the fork nor did the lower prong acted as support. In most instances neither are the prongs price objectives nor support/resistances. A bogus tool IMO. Looks sexy on charts though. I have had altercation with some posters on this. So JMO

[eminimee]

I'm not at all suggesting a move back to the bottom of the channel...but it's possible....A break up and out of the top would also have a measured move of the width of the channel.

http://stockcharts.com/c-sc/sc?s=$NDX&p=W&yr=5&mn=6&dy=0&i=p58398007540&a=79714333&r=6985.png

[NAV]

I'm not at all suggesting a move back to the bottom of the channel...but it's possible....A break up and out of the top would also have a measured move of the width of the channel.

http://stockcharts.com/c-sc/sc?s=$NDX&p=W&yr=5&mn=6&dy=0&i=p58398007540&a=79714333&r=6985.png

That's a beautiful chart. Boy, i had never drawn a long term channel on NDX for a long time. Thanks.

The Weekly semilog chart has it's channel top around NDX 2900 fyi.

Edited by NAV, 16 October 2007 - 08:29 AM.