Narrow Range consolidation

Posted by downtowntrader | 8/21/2006 09:29:00 PM | 2 comments »

Not much to add tonight so I will just post a few quick charts.

ORB looks like it wants to breakout here. MACD is about to crossover and Slow Stoch and CCI are moving higher.

TIE is back to the descending trendline and showing a little weakness. Keep an eye on it at the least.
ETP was mentioned last week as it looked like it might try and clear the triangle. It looks like it did and may follow through tomorrow.

Thats it for tonight.

Good Luck,


DT

2 comments

  1. Anonymous // 11:46 PM  

    DT,

    Could you comment on SMSI's TA when you have a chance? Thanks.

    Scott K

  2. downtowntrader // 8:55 AM  

    Scott,
    IMO SMSI is broken. I would take advantage of this bounce and be a seller in the 12.90-13.00 range. If by some miracle it can hold above above 13.50ish then it may enter a consolidation period but it appears to have too many chips stacked against it.

    DT

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