Friday, April 18, 2008

NASDAQ Composite Index Symmetrical Triangle

Symmetrical triangles can be characterized as areas of indecision. A market pauses and future direction is questioned. Typically, the forces of supply and demand at that moment are considered nearly equal. Attempts to push higher are quickly met by selling, while dips are seen as bargains. Each new lower top and higher bottom becomes more shallow than the last, taking on the shape of a sideways triangle. The current NASDAQ Index will move within the red symmetrical and once it clears this triangle it will probably move into the blue channel.

1 comment:

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