Flags and pennants can be categorized as continuation patterns....

Flags and pennants can be categorized as continuation patterns. They usually represent only brief pauses in a dynamic market. They are typically seen right after a big, quick move. The market then usually takes off again in the same direction. Research has shown that these patterns are some of the most reliable continuation patterns.

Bullish flags are characterized by lower tops and lower bottoms, with the pattern slanting against the trend
..heres a great ref:http://www.incrediblecharts.com/technical/flags_and_pennants.htm


..........................
re todays bastardry

LOL would you let this run if you didnt have a shipload..


here is the cup and handle already played out
with a 100% gain
and also the current Flag potential
which is the base to flag top 2.3c retaken from the flags breakout point..wherever that may be.. I have just extended the major trendline to intersect as one possible timing, it gives 5.8....etc
anyway, thats the theory, in a perfect world ..without white ants..lol
cheers..