No. of Recommendations: 1
>>> "Why is this so? I thought that I had read somewhere that shorter consolidations favored continuation of the prior move, while longer consolidations were more suggestive of an impending reversal."

My view here is that the more overbought the market is, the longer you need to consolidate without breaking down to work off that condition. I would feel much better about a continuation move in the current market if we can do a little more work in this range first.

Of course, this is just me talking...no backup from historical evidence or authoritative texts. Perhaps those with more experience than I can chime in here and set the record straight...

--Derek
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