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57 4599 5"3"1" xK= 80 XD= 89 D=83B9 0=4176 H=4206 L=4168 C=4192 Figure 21 0309. The weekly oscillator is still showing that a long position is favored, but the daily oscillatpr s overbought and is beginning to turn down. When I consider that prices have droprfied every other time the daily oscillator has previously beer overbought, I do not enter any orders.
4598 4368 4295 4221 4147 4873 4808 STOC 5 3 xH= 55 yJ)= 55 0=6323 0=4198 H=4204 L=4145 C=4162 Figure 22 The weekly oscillator remains flat from 0313 through 0323, indicative of the suspected congestion which followed.
4516 4442 4368 4295 414? 4B?3 Xl{= 38 /J)= 38 D=8327 0--414? H=415B L=4125 C=4142 Figure 23 On 0327, the weekly oscillator turns down after 4 successively lower closes. I place an order to sell just below the low of the day at 4124. Because of the close near the high, Im not totally convinced that a true breakout is in the offing, so I bend the rule about stop placement, and place a tight reversing stop just above the high at 4151 as soon as the market closes.
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