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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Paul Shread who wrote (42259)2/7/2001 5:01:29 PM
From: John Carson  Read Replies (1) of 42787
 
Paul, problem with technical analysis is choosing points to draw your lines through. In your COMPX and NDX charts, why not make the first point the close on the day before Greenspan did his surprise cut. If you do that you can draw a line through that and the close today including that intermediate point. Those lines suggest to me that we closed at the bottom of the channel today, only breaking through it momentarily as CSCO hit 30. If we did not rally in last hour, I would tend to agree with you that the channels were broken, but we did have a minor rally. The opening tomorrow should be interesting.
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