wmt descending triangle. i slapped my forehead

look at chart above. I noticed this morning that a descending triangle-ish pattern has started to form, from the start of this month (MAY 2007)

There is a very solid support of the base of the trianlge at about 34.5c once it breaks there could be flurry of new sellers come in. Taking the price down even below 30c (downside target potential)

I post this not to alarm anyone just to make everyone aware of the descending pattern.

it seems like WMT is just holding on but I think there is definaly some nervous nellies in the woodwork.

I wouldnt like to see this come below 34.5c but as I see this triangle start to close now, a strong direction in either way is imminent.

dont panic just keep a close eye on this for the next several days and make your own informed decision.

Hope this helps.

Happy tradding, Froggie.