Friday, November 17, 2006

$TYX Analysis 11.17.2006

Continue to trade below the 89sma. Month is half over, and looks like downside trend continuing. "Old resistance becomes new support" at prior high is broken. Looking for this to become resistance again.

Weekly chart shows possible 5 waves down into support of the 89sma. Weekly activity ended in a doji into support, but still below a prior LIS.

IF we have 5 waves down, THEN look for some kind of retracement, or for some upside activity off the daily charts, and for interest rates to climb back over the prior LIS.

No comments: