No Hurricane Here... Boom update too

Posted by downtowntrader | 9/20/2005 03:01:00 AM | 0 comments »

Looks like we got lucky here in Miami as Hurricane Rita stayed below us. We are and will experience Tropical Storm conditions, but barring a tornado, we should not experience anything major. I am posting another boom update highlighting a downtrend channel on the 5 minute chart and how it relates to the overall picture. Boom may give an early entry if the 5 minute channel is broken to the upside. On the daily chart, it still looks as if we are headed to the 61.8 fan line at a minimum, although that remains to be seen. Good Luck.


ps. As I was finishing up this post, Boom fell to the lower 5 minute trendline at about 35.60 which is also close to the lower downtrend fan line on the daily chart.