MMCLUB

[denmo83]

Hi M!!!

To me, it's textbook and Husky has it right.

We were in an uptrend channel dating back to last July. We broke down out of it in a well defined down channel. If we're going to tag the lower blue trendline, that equates to around 1940-1950. It all depends how fast they take it down. As each day passes, that lower channel moves lower as well.

Note the volume that increased on the way down to and through the bottom of the pink channel last month. Then note the weak volume rally of the last week to back test the channel.

http://www.ttrader.com/mycharts/display.php?p=19996&u=denmo83&a=denmo's%20charts&id=239

IMO, we tank from here, but like Husky said, if we break out the top of the blue down trend channel and back into the pink uptrend channel, that would be bullish. In order to accomplish that, it will need BIG VOLUME. Follow the money trail(volume). It's as big as dragon tracks.