chart70507

One of these days I'm going to nail a chart pattern, (easy in hindsight). I wrote this earlier today -

"24.5 or there abouts the limit to the fall? (if it drops that far).

"Wave C is most likely to have a similar price length to Wave A."
"If the gross movement of Wave 2 has retraced to end of previous Wave 4 of 1, then it is most likely complete."
http://www.geocities.com/WallStreet/Exchange/9807/Charts/SP500-Articles/EWRules.htm"

1) Flag (Bullish) - The rectangular flag shape is the product of what technical analysts refer to as consolidation. Consolidation occurs when the price seems to bounce between an upper and lower price limit. Flags can form in a period as short as 5 days or as longs as 3 to 5 weeks.
http://www.trending123.com/patterns/bull_flag.htm

2) Slow Stochastic - Go long when %K or %D falls below the Oversold level and rises back above it. Go long when %K crosses to above %D.
http://www.incrediblecharts.com/technical/slow_stochastic.htm

3) Price By Volume - Large price by volume bars are used to illustrate high buying and selling interest, and they are often regarded as a sign that the given price level will act as a strong area of support or resistance. It is common to see the price of an asset face little resistance when traveling between levels that have small PBV bars, but pushing the price past areas with large PBV bars is substantially more difficult.
http://www.investopedia.com/terms/p/pricebyvolume.asp

IMO, DYOR
Regards
Chalea