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Replies to post #32753 on Bagman's charts, watchlists, scans and etc.

Replies to #32753 on Bagman's charts, watchlists, scans and etc.
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simplegreen

07/27/08 1:45 PM

#32755 RE: **D*A** #32753

Could be da..,I will not hold my breath on DOW continuation tho...a picture is worth a thousand words as they say...look at this 60 minute Renko!!!

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simplegreen

07/27/08 1:46 PM

#32756 RE: **D*A** #32753

da.., THAT is not the chart I was seeing...will have to log out of SC.com and try again...had to do that earlier in the week.Be back ASAP
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simplegreen

07/27/08 1:49 PM

#32757 RE: **D*A** #32753

OK da.., will try again....60 minute Renko


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simplegreen

07/27/08 1:57 PM

#32758 RE: **D*A** #32753

da.., carefully notice that DOW 60 minute Renko...the problem is that the techs were actually OVERBOUGHT !!...we now have a 4 brick downside reversal on it so the correction could well be nearly through...BUT...the techs are still EXTREMELY high...what it needs IMO is a consolidation now with very littlke dip from this point...what that would do is allow indicators to fall giving headroom but not necessarily have much drop in the index value!The RSI(14) on that chart is at 49.45 and if it loses any significant strength..Welllll ...then down she goes!


Simple