What a refreshing weekend. You gotta love extended weekends. Did anyone do anything fun? I was able to put together some efforts in the yard, and finish a few projects that were overdue. The highlight had to be taking the kids to Hogle Zoo. Animals are fascinating for the kids and we had a great time.

Anyhow, what is in store for the market this week? Presumably low volume, and not too many important economic reports due this week I reckon. I bet if anything, that the market will be confused to slightly bullish this week. The Fed meets again on the 20th and until more rumors are released, I anticipate a slightly bullish to neutral environment until this happens.

Despite a boring market...here are a list of the price patterns I discussed this morning...

ACI- Descending Triangle
RIG- Double Bottom
FCX- Ascending Triangle Breakout (mediocre volume)
$XAU- Ascending Triangle
BHI- Descending Triangle Breakout
APC- Inverted Head & Shoulders
AIT- Triple Bottom
RHAT- Bull Flag
TTC- Bear Flag
PHM- Pennant
DIOD- L.T. Symmetrical Triangle- S.T. Flag
BTU- Descending Triangle

Many of the patterns from the last several classes have yet to give signals, so continue to watch them as well. I'm brainstorming a few ideas for posts later today...as soon as I get one sorted out you'll be hearing more out of me.

Posted by Option Addict on 9/05/2006 at 8:21 AM | Permalink