As of the close today, the first of two "GOLDEN CROSS" just happened (on the daily chart) with the 20 (MA) green line crossing above the 200 (MA) red line. As each day passes, it is looking more-and-more like the longs are in charge of painting the chart. $$ Ka-Ching Ka-Ching $$ (see below for definiton of Golden Cross)

I watched a fight rage-on between the shorts and the longs on the ticker tape while the pennant flag was forming the past week. It appeared that the short sellers tried to take control several times to breakup this bullish pennant formation to force the share price to the down side while the longs steped-up the fight to keep the price in the narrow trading range during the consolidation period. It woulld be logical to think that the shorts lost this round today? as the longs pushed the share price higher past the pennant flag consolidation/formation, triggering the shorts to cover? and join the crowd to buy shares which should help push Silverado stock higher. $$ Ka-Ching Ka-Ching $$

Note that the MACD Indicator is close to a convergance, turning bullish for the price momentium once the black line crosses above the red line. I would expect another round of buying to come in? once MACD confirms crossing $$ Ka-Ching Ka-Ching $$ (see below definiton for MACD crossover)

Silverado Daily Chart Link http://www.freeimagehosting.net/uploads/e3a3dba151.jpg

Remember that the Weekly Charts are built on the back of Daily Charts

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Definition for MACD Moving Average Convergence

Crossovers -When the MACD rises above the signal line, the indicator gives a bullish signal, which suggests that the price of the asset is likely to experience upward momentum. Many traders wait for a confirmed cross above the signal line before entering into a position to avoid getting getting "faked out" or entering into a position too early, as shown by the first arrow.

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Golden Cross Definiton

The golden cross is a chart pattern created when a shorter term moving average was below a longer term moving average, but it crosses above that moving average. This is typically seen as a bullish signal.

As long-term indicators carry more weight, the Golden Cross indicates a bull market on the horizon and is reinforced by high trading volumes. Additionally, the long-term moving average becomes the new support level in the rising market.

Technicians might see this cross as a sign that the market has turned in favor of the stock.

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DEFINITION FOR PENNANT FLAG

A Pennant (Flag) follows a steep, or nearly vertical rise in price, and consists of two converging trendlines that form a narrow, tapering flag shape. The Pennant shape generally appears as a horizontal shape, rather than one with a downtrend or uptrend. This behavior appears on a price chart with the initial price spike forming what technical analysts refer to as the "mast" of the Pennant, followed by a triangular pennant shape [to the right].

Underlying Behavior

This pattern is effectively a pause in an uptrend. The price has moved ahead of itself with a steep rise; therefore market activity takes a break before continuing the uptrend. This pause is reflected in the decreasing trading volume. Similarly, a spike in volume marks the resumption of the uptrend.

Volume
As the Pennant develops, the volume tends to decrease. Martin Pring notes in his book, Technical Analysis Explained, "a pennant is in effect a very small triangle. If anything, volume tends to contract even more during the formation of a pennant than during that of a flag." However, as with Flags, when the Pennant completes you will often observe a sharp spike in volume. Duration of the Pattern

In his book, Technical Analysis of the Financial Markets, John J. Murphy identifies that Pennants and Flags are relatively short-term and should be completed within one to three weeks". He also notes that by comparison, the bullish patterns take longer to develop than the rellated bearish patterns.