Friday, February 15, 2008

Consolidation Pattern In Stocks




Many of the stock indices are forming symmetrical triangle patterns on the daily timeframe. Above is a chart of the NASDAQ and Dow Jones Industrials and as you can see the swings in these two markets are getting tighter and tighter.

I think having a postion in the market right now is like playing a guessing game. I'd rather remain on the sidelines and wait for a clear breakout before taking a postion.

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