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Post# of 51788
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DowDeva

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DowDeva

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Re: Jerry Olson post# 28401

Thursday, 09/20/2007 1:44:24 PM

Thursday, September 20, 2007 1:44:24 PM

Post# of 51788
GOOG: We are at an interesting point here. Pullback or consolidation? 5 points away from July highs, and should it consolidate above 560, many trading programs will have it on their buy signal for stocks making new 52 week highs. Although technically it only has to go to 558+ for this to kick in, most investers like to see a new high at a certain percentage above a recent high. 560 sounds good to me.

Also, should it close at the upper range of the chart on the daily today, we have a classic three white soldier formation in candlestick charting. It is an unbelievably bullish formation. The daily on GOOG almost looks like the chart pictured in the example shown in the link. Technically the long white candles should not have any 'wicks' (highs or lows outside the open/close), which it does here, but IMO, one can take a little license when taking the height of the candle into appreciation. Also, I am assuming that when there is a gap in any of the candles the formation,which GOOG had yesterday, it becomes even more bullish. Not standing on firm candlestick ground here though, lol.

http://www.streetauthority.com/terms/t/threewhitesoldiers.asp

In addition, from a Hurst perspective, the 20 week cycle (10 week fld)has crossed the sp to the downside. If, GOOG can consolidate in the 550-560 range, the fld cross predicts a conservative sp of 600 +/-(I am just eyeballing the chart here..so forgive me if I am a few points off).

http://charts.barchart.com/chart.asp?sym=GOOG&data=A&date=092007&den=MED&divd=n&...

The next 10 days are going to be very interesting.

Deva

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