March 20, 2006: Cnsld

Nothing exciting today except it's a Monday, and the probability of anything other than cnsld on Mondays is pretty slim-myresearch over the last few years shows that, only exception when there's extremely bullish market action when Mondays are just a continuation of a strong Friday. Ok, so today is the 3rd day of consolidation above the gap on YM as I have it marked on the chart, so I'm expecting tomorrow's session to be the 4th day where there should be a b/o in either direction, and that's a typical pattern dating back a few years when I started tracking patterns. BKX is a very good indicator of market action and it was bullish following early drop in the morning especially in afternoon. The Semis don't look too hot especially with SOX not able to get over the 500 level, and I expect a breach of the horizontal support line on the chart even if it's for a dbl bottom. The Dawg & SP are about the only thing that just took off



NAZ has a major basing pattern that can lead to another 200 points to the upside - that's if it HOLDS! I call this pattern the 3 kings. If you want to see a similar one go check the March 2003 bottom on Dow, it's an amazing pattern dating back to the 1920s during depression