Replies to post #42992 on Abet Chichi2 (Chichi2)

[stockmen]

Watch The Bank Index For A Breakout


Above is a weekly chart of the Bank index symbol($BKX) and as you can see this particular group of stocks have been relatively quiet since last fall. The BKX has been in a trading range with a low of approximately 40 and a high of 50.

The Bollinger Bands which track volatility are contracting and are the tightest we have seen in many many months. Usually such a tight contraction often leads to a significant breakout which is why I suggest we keep an eye on this index.

What I am waiting for is a weekly close outside of the trading range. So a weekly close below 40 or above 50 may suggest which way this index will trend next.
Posted by Kevin

Labels: technical analysis

[DiscoverGold]

It appears that we are setting up for the Unemployment Rate and Nonfarm Payrolls report Friday.

http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm

George.

[b42]

*THX Chi2; Please don't give up 'completely.' I really miss your superb ability to define those shorter wave patterns during corrections/consolidations etc.

[chichi2]

McClellan 2 year Oscillator Charts

read today's chart correctly
these are weekly charts\
they each moved down 7 points today
see the little dash on the chart
wrong direction for the day, but
more room to move up to the Bollinger Bands
on future days...

click on replied to msg

[chichi2]

McClellan 2 Year Oscillator Weekly charts
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47301787

McClellan Oscillator and Summation Charts
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34861093

do not forget to check these out after 5pm tonight