Posted by downtowntrader | 9/20/2005 10:01:00 PM | 2 comments »

Another day in the fan. Boom has been holding the current fan for the past week. It bounced off the lower line today (see earlier post with intraday chart). Not sure where this will end, but I still think the path of least resistance is down. Zoomed in on ABC down. Boom has been trading fairly reliably within the common fibonacci retraces. The blue lines are the fib. retrace for wave 5 (or last movement up). The fans are retraces of the same move up and the move down from 52.50 to 34.44. See 6 month chart below to gain a better perspective of the recent move up and the following correction.

6 Month Chart showing wave 5. See full chart in previous posts below. Good Luck.



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