| The Dow (first chart below) ran into the upper boundary of its symmetrical triangle today. If it can clear 8000, the index may have room to run. To the downside, if it breaks below 7790, it could fall a long way. The S&P (second chart) pushed through the upper boundary of its symmetrical triangle before being rejected at 852 resistance; a move above that level would be a plus. To the downside, a break of 827 would be bearish. The Nasdaq (third chart) put in one heck of a bearish engulfing candlestick today, completely engulfing Friday's trading range. 1353 is critical resistance, and support can be found at 1315-1317, 1300 and 1292. The SOX (fourth chart), the semiconductor index, turned down once again from the neckline of a head and shoulders top.
 RealMoney.com: Dont Believe the Hope::
level that sets up a bull trap -- setting off buy orders -- and then quickly Technical Analysis. Watch for an Island Reversal in Potash. 4/29/2008 8:46 AM EDT
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Special report: For a free introduction to technical analysis and chart patterns, visit http://www.internetstockreport.com/guest/article/0,1785,2571_5/00051,00.html. Charting A Course: A Technical Analysis Glossary - Forbes.com::
from Charting A Course: A Technical Analysis Glossary Opposite of Bull Trap. Breakaway Gap: Usually, a high-volume move out of a consolidation pattern.
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TradingDay.com Technical Analysis Tutorial - Scanning Tips and ::
The Gap Primer. Trend, Direction and Timing. Trend Waves. Triangle Trading. Day Trading Davy and Goliath traps many traders.
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