Ask DrBob Message Board - Msg: 14441372

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Strategies & Market Trends : Ask DrBob

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To: Drbob512 who started this subject	9/23/2000 5:57:09 AM
From: TraderMERL	Read Replies (2) of 100058

Today's Chart Pattern: Double Top Is there a double top on the NAZ right now. Here are my criteria: 1. Existence of prior uptrend leading up to first peak 2. Two peaks of roughly equal size 3. First peak forms resistance level 4. Trough between 2 peaks has 10% decline or more and ~1 month duration 5. Trough drags on a bit and has trouble moving back up (dry up of demand) 6. Volume lower on second peak than first 7. Decline of 2nd peak to break lowest low of trough as critical support Volume on second peak is not decidedly lower than first and #7 has not been fulfilled Comments appreciated.

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