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Strategies & Market Trends : Ask DrBob

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To: Drbob512 who started this subject	10/1/2000 5:14:56 PM
From: TraderMERL	Read Replies (1) of 100058

Sorenkg's TA for the day-comments appreciated XOM: Failed retest of Top Bollinger with bearish Doji Star type formation and weak inverted hammer. RSI is forming successively lower peaks and CMF starting to turn downward. MACD crossover above center is bullish but the histogram is very close to center on a price run-up indicating short signal. Full Stochastics are oversold while increasing divergence between 13 and 50 EMA is bullish. Seems to be a bearish divergence between money flow index and stock price. Chart pattern shows break of resistance trendline at 89 and trading channel of 85 to 97 after falling from a rising wedge in late June. Current uptrend appears to be forming a very constricted double top with volume tapering off on second top. Prognosis is bearish to neutral

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