The triangles, MIB Italy and MS Morgan Stanley.

MIB jan 19 2012MS jan 19 2012

The triangle in the MIB, Italian Index is holding up so far despite some initial reservations. On MS the triangle is completely negated by today’s rise above the preceding leg. It does not , however , then follow that the stock will keep shooting up.There are a number of other counts that are still bearish. Considering that we are looking to buy this stock, the action is annoying to say the least.