Monday, January 3, 2011

AGG forming a bearish flag?

More obsessing over AGG. It looks like it's developing a bearish flag.  The length of the flagpole, from A to C, is about 2.60.  If the price breaks below the lower green line, there should be a drop of about 2.60 from that break.  Flags can take weeks to develop. This one is only a couple of weeks old, and it may not even be a flag after all. Check back in a week or two to see what happened.

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