Stock Attack II - A Complete Analysis Message Board

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

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To: Arik T.G. who wrote (11772)	7/16/2001 1:03:53 PM
From: donald sew	Read Replies (1) of 52237

Arik, >>>> This should go the other way, too: If the market fails to make a lower low this week, it will look to break higher. <<<< Setting a LOWER HIGH implies that the downtrend is intact, but of course as you mentioned, for the downtrend to continue it would need a LOWER LOW. However, if the forthcoming selloff does not set a LOWER LOW, that does not immediately imply that the trend is changing. It could just be a consolidation period where a bearish pattern like a rectangle/pennant/triangle/etc may form. So a LOWER HIGH implies that the downtrend is intact, but a HIGHER LOW doesnt neccessarily mean that the trend is changing. As for INDIA, they are doing well relatively, but keep in mind that they are still heavy commodity exporters rather than HiTECH exporters. >>>> Does the 3rd day has to be strong from morning? Cause today doesn't look that strong so far <<<<<< No it doesnt. It depends on the close, but for a successful 3-DAY pattern, DAY-3 should be similar to DAY-1. It dont look good. Yup, that sure does look like a MEGAPHONE on MSFT that will break to the downside. Thanks for pointing that out. seeya

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