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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Paul Shread who wrote (42109)2/6/2001 9:32:58 PM
From: Berney  Read Replies (1) of 42787
 
Thanks Paul

I worry not about SI Bob. I'm sure his administrative abilities have been duly noted. Clearly, the problem is whether this community will be sustained.

Now, back to life. You noted in a comment today that the weekly NDX down trend line was broken. I see it as firmly intact and acting as powerful resistance.

Also, the tread discussed the diamond pattern on INDU this past summer/fall. Probably time to revisit this one. It appears to me on the weekly chart that the down trend line comes into play now just above 11K. So, we have both the horizontal stuff and the Line. The support line seems to come in about 10500. I had Trading Machine Paul check and the apex develops about 6/10.

The book says that a top diamond only breaks up about 23% of the time. In any case, the potential move is some 2000 points so it bears watching.

Just a View from the Swamp

Berney
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