Replies to post #71955 on ajtj99's Market Pulse

[plexxus]

FDX forming a bullish flag pattern that has potential to take the Transports to new highs.

http://stockcharts.com/def/servlet/SC.web?c=fdx,uu[w,a]dhcayiay[d20050507,20061231][pb50!b200!f][vc6...

[sandeeps]

S&P had a nearly perfect ABC with A=C from 1294. Now, as long as yesterday's low is not violated, we should take out the highs soon - possibly by Feb 15th.

[market_watcher]

I'm playing things very conservatively here, because I think there's going to be opportunities on both sides and can't really get completely convinced by any longer-term reads. My preferred is that upside resolution you discussed, but I see other bearish counts that could be in effect. I'm following a pattern that will get me short below 41.04 QQQQ right now and long above today's high. I'll have to let the longer-term stuff play out more.