I've drawn the wedge pattern that is built into the XBI.... This doesn't say short... what it says Is start watching for the breakdown. 
Here it is in the 10 minute.... What this says is..... Look for the lower low, and lower high.
Most likely on Monday it will come down to the green line, it will follow it back to the upside. Then form a lower high, followed by a lower low. Below 67.60. Then it will go down and keep testing the horizontal support lines.
Sunday, August 17, 2008
xbi... Triangles and such. Wedge Patterns
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4 comments:
I think I'm agreeing with you:
http://tinyurl.com/5c6vr5
I'd give it 80% it will break down Monday... 95% in the next 3 days.
Wedges show reversals.
Very interesting. I'm not going to argue with your right hemisphere. I see the wedge, but 80-95%?!!
When you say "breakdown", do you mean below $67.70? I can see this sucker bouncing around $68.40, or at least above $67.70 for quite some time.
how about 62-60... Could take a month or so..
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