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

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To: Paul Shread who wrote (38031)	12/14/2000 2:16:30 PM
From: Robert Graham	Read Replies (2) of 42787

Hasn't someone previously observed that it has already broken out of the inverse H&S? I have been out of date with the market, so this is why I ask this question. :-) Right now I see a type of bear flag that has resolved to the downside and met its first price target. A quick look at the charts shows the COMPX at a support. How this market closes today I think can tell us about the near term prospects of the market. The market was putting in congestion style cycles as it moved up. This was a very definite indication of a DOWN move in the making. This coupled with the response from the VIX told me that there was going to be a test to the downside coming up, as we are seeing now. As it turns out, it has formed a type of bear flag which did resolve down. This at the same time confirmed important overhead resistance. And now price is at support on the daily COMPX chart. Now, I am not saying the inverse H&S pattern is invalid. I am just noting what I see on a quick look of the daily COMPX chart. Life has been an adventure for me lately! :-) Bob Graham

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