AI
Sunday, March 30, 2003 2:08:40 PM
Jim, ST intraday chart patterns on the COMP, NDX, SPX, & DOW support what you're saying, me thinks.
Right now the COMP & NDX look like falling triangles (bearish) while the DOW & SPX look like falling wedges (bullish). The best way to reconcile this divergence, IMDO, is for all indices to drop a bit more so that all indices show either bullish or bearish patterns. (My WAG is that they will all settle on falling wedges, but they could all settle into down channels.)
Right now the COMP & NDX look like falling triangles (bearish) while the DOW & SPX look like falling wedges (bullish). The best way to reconcile this divergence, IMDO, is for all indices to drop a bit more so that all indices show either bullish or bearish patterns. (My WAG is that they will all settle on falling wedges, but they could all settle into down channels.)
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