AI
Friday, April 25, 2003 3:21:18 PM
Charts -- If this rally is "real," i.e., more than just another flash-in-the-bear-pan, then I think this retracement should stop right about here. Here's my thinking, chartwise:
[1] Falling SR line
[2] 38% retracement
[3] Fork Support
[4] Last but definately not least, there is the matter of the ascending triangle on the COMP. If that fails all heck breaks loose IMDO. Note that pullbacks to the horizontal breakout line are quite common, and nothing to be worried about, in and of themselves. But if price breaks below that thick red line then things start getting really hinky.
[1] Falling SR line
[2] 38% retracement
[3] Fork Support
[4] Last but definately not least, there is the matter of the ascending triangle on the COMP. If that fails all heck breaks loose IMDO. Note that pullbacks to the horizontal breakout line are quite common, and nothing to be worried about, in and of themselves. But if price breaks below that thick red line then things start getting really hinky.
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