New falling channels

Posted by Chris Kimble on 03/11/2011 at 2:36 pm; This entry is filed under Mid-Caps, Nasdaq 100, Russell 2000, S&P 500.

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New falling channels appear to be forming in the 4-pack above. Rallies should be expected inside of these channels.  Key to these channels, can the top of the falling channel be taken out!

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3 Comments

  1. Andrew March 11th, 2011 at 6:12 pm

    Chris, could this be viewed as a pennant consolidation pattern? In that case, could this actually be a healthy pause?

  2. Chris Kimble March 11th, 2011 at 8:18 pm

    Andrew…At this time, anything is possible. Broad market/500 index has found lucky 13 (1,300) to be support at this time.

  3. Andrew March 12th, 2011 at 6:24 am

    rooting for 1300, but VIX has a clear rising trend line defined that I would like to see broken to downside, and hoping it stays below 200 day MA