Replies to post #39899 on Short Term Trading Member Forum

[Joseph Silent]

Ted,

perfect, thanks! Yes, that red line is the one I am referring to, thinking it might be resistance for now. And yes, I also have the blue line, and did not think we would crack it easily --- but here we are.

I'm hoping we travel a bit in that megaphone, instead of busting up past the red line. You think we will bust up shortly?

Thanks,

/J

PS The 20 week MA will move up to meet the blue line in the next week or so. So yes, I think/hope we test it ... in the 900 area soon, or higher later.

[Toppcats]

Have to agree with you - Looks like we could see a fast retracement to/near that support line, which also just so happens to test the neckline break of the reverse H/S pattern now in play. Would keep that pattern possibility in mind if shorting here.