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Post# of 148479
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Trade Hard

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Trade Hard

Re: royg1927 post# 5132

Thursday, 07/24/2003 12:59:20 PM

Thursday, July 24, 2003 12:59:20 PM

Post# of 148479
The most logical outcome is the following as I don`t see how a strong move to the upside could be made after today`s strong opening:

1) A sideways move over the top of the downtrend channel within the boundaries of that small uptrending channel. While time passes by (consolidation in time) room to the upside may be delivered.

2) A drop towards the breakout point of the inverse H&S around 1266.

While I`m writing this, descending triangles are forming on the NDX, COMP, SPX and DJIA. Their base is respectively 1278, 1730, 994, 9234. Watch those levels for a decisive downside break.






Trade what you see, not what you expect.

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