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Post# of 704019
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Newly2b

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Newly2b

Re: osprey post# 394211

Saturday, 05/21/2005 3:32:40 PM

Saturday, May 21, 2005 3:32:40 PM

Post# of 704019
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The 200sma on the Weekly has been essentially flat since last December. We are currently at resistance after 5 up days straight, progressing from strong to very strong to weaker, as volume and range contract, and slope from one high to the next decreases (indicating a weakening of the rally), and leaving a small gap open at 2004-2007.

Friday's candle was a weak Hanging Man, possibly a bearish top reversal candle, but weak enough that we may see further up before a reversal occurs. An open on Monday below 2040 would confirm a reversal in progress, probably at least to the 2000 area, but more likely we can expect either a sideways move on Monday, or a move up followed by a reversal. All JMO. Time will tell the tale.

http://www.ttrader.com/mycharts/display.php?p=34079&u=newly2b&a=Newly%5C%27s%20Charts&id...

Newly

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