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Consumer Staples - breakout

Chart Forum » Sectors & Indices » Consumer Staples - breakout

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dirty_red
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Username: dirty_red

Post Number: 47
Registered: 05-2003

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Tuesday, October 21, 2003 - 05:29 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



All,
This looks like a very interesting pattern with potential for a very strong move. I have been watching it closely for some time as it has developed -originally suspected it would break lower due to weakness in WOW, FOA components but didnt really care. As we shouldnt.

Todays action certainly breaks the downtrend line and targets longer term retest of highs near 4600. (4390-4120+ 4300). this sector has been underperforming during the rally - maybe its time for some catch up.

Would have been better without a V bottom but obviously sometimes things arent technically perfect.

What do you think?



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