Market direction

   Some ominous chart patterns emerging lately. Looking at the XAO, still waiting to see if the recent run up is just a bear trap or something with a bit more substance. With the XAO being unsuccessfull in attempts to break past the highs in March for the last few weeks may indicate this rally will fizzle out. Too early to suggest a double top formation?? But watch out if it does tank.

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Cobra Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 08 Nov 2004 Location: Australia Posts: 76	Post Options Post Reply Quote Cobra Report Post Quote Reply Topic: Market direction Posted: 13 Jul 2005 at 2:14am
	Some ominous chart patterns emerging lately. Looking at the XAO, still waiting to see if the recent run up is just a bear trap or something with a bit more substance. With the XAO being unsuccessfull in attempts to break past the highs in March for the last few weeks may indicate this rally will fizzle out. Too early to suggest a double top formation?? But watch out if it does tank.
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