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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Paul Shread who wrote (28648)	8/29/2000 2:56:50 PM
From: Robert Graham	Read Replies (1) of 42787

The trick is not reading too much into what I am seeing with the TICK and TRIN. Sometimes the indications they provide is more obvious than at other times. :-) Look at right now. The TRIN is in a position to move down, the TICK is in a position to move up, but I do not see anything on the ND chart yet. The Stochs on the 3-min and 5-min and 7-min SPOO bottomed out and price is responding. The Stochs on the 1-min chart bottomed out earlier. So far I see price has move up to test the 20 EMA on the 1-min chart. TICK has not responded yet even though the TRIN ha moved down a bit. ND has not responded yet. I think price action on the SPOO may be the deciding factor here. Looks like a possible test of botom coming up on the 1-min SPOO chart. No setup to take to the upside yet anyways. Lets see what happens on the next push up by the TICK. 3:01 PM Tiny bull flag on the 1-min I would not normally take is resolving uwards after a pullback. ND is responding now as the TICK is putting in a second push to the upside. TRIN has been congesting but i it goes down any further will confirm this move. 3:04 PM Tape action is positive. TRIN has not validated this move yet. TICK has moved up to resistance that has been in place and periodically tested during today. ND continues to follow by moving up. 3:08 PM Pullback was minor but did indicate some selling itnerest. Once buying surged again, price continued up. So buyins is dominating price movement right now, according to my tape indicator. But I still would keep an eye on where selling can reassert itself, where buying lets up. Bob Graham

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