Monday, October 27, 2008
SSO: Wolfe Wave Breakout
(Click On Chart To Enlarge)
The SSO spent the morning trading in a Symmetrical Triangle (pattern in yellow), then headed to the top of the Wolfe Wave, which broke out to the upside. On any selloff, support "should be" the trendline from Waves 2 and 4, then the top of this morning's Symmetrical triangle (pattern in yellow).
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