the following chart is concerned with "outlining" PPS upside targets from the perspective
of a TA -centric observer
The 2008 Gap Chart-
What charts are chosen for highlighting by what chartists is always a question mark.
anyone looking at either a weekly or monthly eln chart stretching back to mid 2008 is going to get very curious about those huge red candles slashing downwards in July of 2008.
However,. should curiosity lead those chartists to look at a daily chart for that time period, the chart above is what they will see.
Wow, not just one but 2 rather beefy gap-downs
Given that the first one, with almost a $4 hole in starts at $15.27(now), is it any wonder why the Eln market is so coy
about pushing up into the $15's
And, if you couple those Gaps with Fibonacci up-retraces , we're talking PPs targets with some real magnetic attraction. The strength of the news will determine just which gap and which Fib the PPS "gets stuck" in.
