Dow Pennant

Coiling... not sure which way this will break (depends on economic data and/or China news) but I got this feeling that it will hit the upper trend line first before it breaks up or down.

In other words, more whipsaw action

Kommentera:

Intraday pattern seems to support my idea that it's going to hit the upper trendline, but it all depends on what the Euro market does tonight. If the market gaps up we're headed up since it's a Friday.

Of course I said that last Friday and the damn Euros tanked their market on bad economic data.

Good luck.

Kommentera:

Looks like it hit the upper trendline as predicted

Kommentera:

Pretty obvious where this is headed