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Re: nspolar post# 14662

Monday, 11/07/2005 4:32:55 PM

Monday, November 07, 2005 4:32:55 PM

Post# of 19037
The reason I did not put the other expansions on the chart was the because the 1/31/01 bar had such a lare amount of volume I see that as acting as a magnet for the move up if we get it. That and coming of the top and checking for confluence,[denoted by the red green brick 2645.67 - 2884.55],the 1:1.0 expansion is smack dab in confluence. So I'd expect this to act as resistance and then a sell off to the breakout point before heading up to take on a 1:1.618. Anyway, not going to happen tomorrow, but it's nice to have a road map. Heck, if we do not get a sign of strength here at the end of this accumulation we would head back down and test the bottom of this trading range at the C level as the bears try to bust this down.
Right now though the bulls are in charge and the trend is up.

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