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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Moominoid who wrote (4310)	7/18/2001 11:58:48 PM
From: Dan Duchardt	Read Replies (1) of 33421

David, I'm a real P&F novice, but in case the expert reply does not come along for a while I'll just mention that the last "O" falling lower than the previous two bottom "O"s is a sign of weakness. Also, the series of rising + is a rising trendline that is now being tested. You can see the one that broke in December (months are designated by numbers 1 - 9 and A - C). If you follow the link you will see the Triple Bottom Breakdown alert just above the chart. Below the chart you can link to "About P&F Alerts" (I added the = for spacing) Triple Bottom Breakdown X XO XOX XOXOX XOXOXO XOXOXO =O=O=O <-- triple bottom =====-O <-- triple bottom breakdown A triple bottom breakdown is similar to a double bottom breakdown except that the price at which the breakdown occurred is a price that the chart retraced from two times before. This implies that the price level is a more significant area of support (area where buyers are willing to buy the stock and create demand that outstrips supply) than what is seen on a double bottom. The breakdown below this level implies that the sellers are now creating more supply than there is demand and therefore the prices are breaking down. Dan

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