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I agree with every thing you said, but am not as sure this is the core business new base yet. My swing trade entry was at 25, the base formed before Q 2004 release and strat hype. I think a new higher base will form after Q1 is out and the aroons and pennant flag shows continued slow climb the next several weeks until then.
I HOPE my eval would come to be and the new base will be slightly above 30, with peaks at 40 and 25. But you have a strong point about it basing here!
Todays AROON look so far; Short indicator - down trend weaking; Long indicator - up trend weakening.
Looked at the long 20 day and short 3 day aroons, so far today, it shows the long up trend is slowly continuing to weaken, as the up line lowers towards 70 gradually, while the down line stays at 100.
The 3 day short look shows the recent short down trend is weakening in the same manner, but opposite to the long, showing the quick down trend weakening toward 70 while the up line stays at 100.
Kind of tells me the up trend will continue slower, as this short term down glitch changes back positive quicker.
We'll see
Sucess!
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