Posted by jcomptonod on 23rd of Dec 2009 at 01:05 pm
Without getting too carried away. the overall pattern appears
similar to the market as a whole, so the general idea for me is if
the market continues on up so probably will URE and we'd all like
to know the answer to what the market is going to do. The
current pattern, whether you call it a little H&S or cup and
handle - from October until now meaures up another 1 1/2 points or
so. Looks to me like it still has some room to run if the
market holds up..
The downsides are that are that it is a little overbought (but
with the slow stochastics above 80 it could also trend for a
while). It didn't break out on very good volume (so the
breakout appears suspect) but it still is at a new high. It's also
at the top of it's Bollinger Band.
Without getting too carried away.
URE
Posted by jcomptonod on 23rd of Dec 2009 at 01:05 pm
Without getting too carried away. the overall pattern appears similar to the market as a whole, so the general idea for me is if the market continues on up so probably will URE and we'd all like to know the answer to what the market is going to do. The current pattern, whether you call it a little H&S or cup and handle - from October until now meaures up another 1 1/2 points or so. Looks to me like it still has some room to run if the market holds up..
The downsides are that are that it is a little overbought (but with the slow stochastics above 80 it could also trend for a while). It didn't break out on very good volume (so the breakout appears suspect) but it still is at a new high. It's also at the top of it's Bollinger Band.
URE