Friday, March 16, 2007

Consolidating on the Swing Chart

1) On the Swing Chart, we are consolidating between PRIMEs.
2) On the TREND Chart, PRICE is still trying to confirm the bottom set the night before (1375.25). Going into the close, we were making Lower Highs & Lower Lows on an Oscillation basis. We will continue to do so until PRICE hits PRIME, and then a PPF of Support, to swing PRICE back up.
3) On a Swing Basis, the markets looked poise to drop, with the 2 Legs of Bull Break created on the Swing Chart in the last 2 weeks of trading. But with the 3rd Leg failing to form, it will be interesting to see if the Bull will be able to "climb this wall of worry", and reverse back into the Primary Bull Trend (Swing Basis) it has been on.

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