Replies to post #76036 on ajtj99's Market Pulse

[Burk]

Thanks, P.

[ajtj99]

plexxus, besides the other things I mentioned, if you look at the SPX weekly chart you'll notice churning at the highs as well as a compression pattern on the full stochs 13,8,3:

http://stockcharts.com/def/servlet/SC.web?c=$SPX,uu[a,a]waclyiay[d19990127,20060627][pc9!c13!c20!d20...

My experience with stochastic compression patterns is when the trendline on them fails they reverse and test the origin of the compression pattern. That's a biggie in my book.

[omandan]

Plexxus
I agree, it all looks good to go up to me.
After GDP & stuff Friday & then the big up day I think that just confirms the up breakout.
Dan