SC,
Let me be the first this weekend to chart FLT. The first chart is longish term, showing the unrelenting rally. If you look at the top of the big fork, you will see a probable test/retest pattern. Notice how the LT Median line goes bang through the gap in those zoom bars.
Moving in to get a better look, you will be able to see the smaller ST red fork which is demonstrating the same pattern. In the bottom pane, the 15,5,3 stoch is curling over. I was occupied this afternoon (hedging) so I was not able to enter a position on this one, but I think there will be no shortage of regular readers who would be able to guess at what position I would enter in this situation, and where i would place the stop.
Beware the dark side Luke...
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- weekend charting 29-01-10
weekend charting 29-01-10, page-5
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