Trannies "broke" this triangle too. Tough sledding so far
after the break -- difficult to tell though with crazy action in
oil (not good for trannies), and weak market today (somewhat).
Bottom line: IYT broke topside, so far no follow through.
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OIH
Posted by keithbob on 16th of Nov 2011 at 01:23 pm
Oil Service ETF
Bullish break of triangle
OIH bullish b/o-- let's see
Posted by parkridge77 on 16th of Nov 2011 at 01:30 pm
OIH bullish b/o-- let's see clean break out & back test for confirmation- still could be a false b/o
Trannies "broke" this triangle too.
Posted by kalinm on 16th of Nov 2011 at 01:35 pm
Trannies "broke" this triangle too. Tough sledding so far after the break -- difficult to tell though with crazy action in oil (not good for trannies), and weak market today (somewhat). Bottom line: IYT broke topside, so far no follow through.