On the charts, April gold futures have plunged out of a wedge pattern drawn on the daily chart, see Figure 1 below.
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Hovnanian EnterprisesHovnanian Enterprises (HOV), while lagging some of our other picks of the last few weeks, has broken solidly out of a wedge pattern in the last couple days.
The stock popped out of a wedge in late October, pulled back in an orderly fashion, and then had a key day two weeks ago, breaking out on 230 million shares.
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On January 3rd, the first trading day of 2012, we got that big break out of the wedge, perhaps (as we talked about on our blog beforehand) due to new fund inflows at the beginning of a new year.
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Micheel, the 2003 US PGA champion, was first home with a 69 after mixing five birdies with three bogeys, while the 29-year-old De Jonge, playing in his first US Open, was helped by holing out with a wedge for an eagle at the par-five 14th.
But many Israelis say that quitting Gaza is the thin end of a wedge that will eventually lever Israel out of much or all of the West Bank as well.
The settler movement as a whole sees disengagement as the thin edge of a wedge that will eventually lever Israel out of the West Bank and parts of Jerusalem as well.
Wedge said he argued Overbay was already out before the obstruction occurred.
Some old company veteran will remember where that switch was buried, or will yank out the offending chip and wedge a copper penny in its place.
The Oil Service ETF (OIH) has been a big tell that the market was not out of the woods, and it took the plunge out of the tightly formed wedge pattern that the newsletter has been targeting.
The organisation is also concerned that if they were to agree to this request it would be the thin end of the wedge and lead to more requests for them to carry out research.
When a stock or index breaks out of a multi-month consolidation pattern like that wedge, the next move in the direction of the break generally lasts about the same length of time that it took to form the pattern.
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But the odds are equally good that the inevitable battle supreme that will play out inside the House Republican caucus will drive the final wedge between mainstream Congressional Republicans and their Tea Party flank splitting off the extremist from the GOP caucus once and for all.
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What we have seen for literally about the past two decades now, the black community being used as a pawn, being used as a wedge by the conservative right to try to carve gay and lesbian people out of the broader civil rights movement with the perception that the black community are the gatekeepers.
First Solar, Inc. (FSLR) broke out on big volume in August, and then consolidated in a beautiful, coiling wedge-type pattern that was broken on not enough volume in October.
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