According to my analysis of the Dow intraday there has been consolidation these last few trading sessions and we are now at an important intra-day trend line. Are we going to see the Dow breakout trough yesterdays high of 10639? OR TANK FAST!! Ether way I recon there should be quite a bit of action on this decision point day. Where are you lot placing your bets?
Dearest Brother wwatson1, It is with the greatest of interest that I perused your interesting analysis. Love, Candle
Another way to look at the same chart is to draw a parallel line (a bit to the left of the one already there) to make an uptrending channel. In this scenario a 'break up' from the flag would not necessarily cause a true breakout but still be contained in the channel. Hope that was clear!
You mean it would breakout only to have resistance at previous support trend line right? Could be a good shorting opportunity soon then