imported post
Frizz B. wrote:
tsptalk wrote:
A Voyager probe sling-shot comes to mind. Would this event also mark where a resistance line becomes a support line?
tsptalk wrote:
Ah, like a few tiny black days after a run-up? Flags and pennants come to mind, too, as well asthe handle portion of a base.
Frizz B. wrote:
hehe...Yes, you're worthy of an acronym!Rolo, Thanks for the compliment, I think.
tsptalk wrote:
One thing, and this kind of started this whole discussion, sometimes when the market is overbought and stretching the limits of that indicator (as we are seeing now) we can still have big moves upward.
A Voyager probe sling-shot comes to mind. Would this event also mark where a resistance line becomes a support line?
tsptalk wrote:
Also, the ob/os indicator can come down from high toa more normal level while the market isflat or only slightly down for a few days. It doesn't necessarily mean the market is going to pullback.
Ah, like a few tiny black days after a run-up? Flags and pennants come to mind, too, as well asthe handle portion of a base.