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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Robert Graham who wrote (25588)7/18/2000 1:27:32 PM
From: Robert Graham  Read Replies (1) of 42787
 
SPOO has started behaving differently in its congestion trading range. There was a pullback and price showed evidence of contraction during this pullback. A move may be coming up soon. I am anticipating a fakeout before the real move takes place, one that will follow through.

**update**

Price currently testing the top of the trading range. Test of the 20 EMA 15 coming up.

**update**

For those looking for a short, 1511.25 may be a good place, depending on what time frame you are trading. This would be for the 3-min time frame.

**update**

Price has now touched the top of the old congestion range that is now acting as support. If this move does not resolve, then I am expecting a teest of support. Entry at 1512.50 is looking possible for a short. I will not take this one since I am not trading a pattern. Also looks like price is reaching for its 20 EMA 15.

**update**

Price is testing its 20 EMA 15. A possible bear flag on the 15-min may be in developement. Stil not set up yet. If price were to move dowwn now, which is possible, there is nothing to set up a tradable move...yet. Second, if this flag does set up, I still need a setup in a lower time frame to take to minimize my stop loss, IOW make the risk manageable.

Looking on the 15-min chart, a relatively strong nearby resistance can be found at about 1514.75 to 1515.50.

Bob Graham
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