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pennies2007

07/11/11 10:57 PM

#79741 RE: bioscript #79739

Very good bio. I've often read articles that suggest inverting a chart for a different view because patterns can sometimes jump out at you when the perspective is changed.

Based on everything else we're seeing, I'm betting the dollar index bottom is already in and, as the chart author suggests, the next break through the wedge trendline will stick.

gitonwithit

07/11/11 11:06 PM

#79744 RE: bioscript #79739

I would postulate that the overthrow in the chart is actually the head and we are about to jump off the shoulder to the ankle. Personally I'm not a believer in overthrow, I know lots of folks do which doesn't mean either view is wrong, just different interpretation of the waves. Three times is usually the charm and I think the third time as been reached on the upper wedge.