Replies to post #77099 on ajtj99's Market Pulse

[plexxus]

PCLN still looks interesting here...

http://stockcharts.com/def/servlet/SC.web?c=pcln,uu[w,a]dhcayiay[d20050807,20061231][pb50!b200!f][vc...

[Burk]

Edit: See my post above...

[Burk]

Robb, you mentioned a possible cup and handle forming on the SOX daily....

As I read info on "Stockcharts" regarding the projected advance on a cup and handle breakout, it appears the Sox, if it clears the resistance line formed by the high of the "cup" (I currently eyeball this at about 560ish), Stockcharts tell us this:

"Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup."

So, looks to me like according to "Cup and Handle Breakout Theory" (LOL), a projected advance upon a breakout at 560, would indicate an advance to about 750 (since 350 was the bottom of the cup)....that's a 42% advance from today's close....

(See SOX Daily Chart...three charts down)...

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID897936


If that happens, WOW!! Are you agreeing with "Stockcharts" interpretation of a projected target upon breakout (if indeed this breaks out and, if, indeed, it is a cup and handle on the daily)?

Thanks!!

[Burk]

Hmm..the NDX doesn't seem to be in the same possible cup and handle formation (for the corresponding time period) that the SOX may be in (at least you were mentioning the possibility) so I'm wondering if it makes the SOX possible cup and handle less probable (again for the same time periods for each chart..the NDX and the SOX)...

Ok, I'm going to bed...Apparently, I'll just have to let the market show me...

Ha...