Replies to post #78270 on ajtj99's Market Pulse

[positiontrader]

Thanks

[LG]

stkboy1: While that trend line is right in spirit, technically the line is drawn incorrectly.

If Ted Burge thinks the trend line is correctly plotted, he is wrong.

LG

PS: Some of us have been around since long before StockCharts.Com existed and its "current" pool of online celebrity chartist...

http://www.siliconinvestor.com/readmsg.aspx?msgid=11147208

[ajtj99]

stkboy1, that trendline on that chart was started arbitrarily and apparently made to fit a particular bias.

While T/A attempts to graphically portray price action over time, trendlines should be drawn in accordance to rules or thier relevance disappears.

[Newly2b]

That trendline isn't anchored or drawn properly. This, while not my preferred choice, is a possibility, with lower t/l support around 1560:



Newly