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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Chris who wrote (25551)12/5/2001 2:04:51 PM
From: Robert Graham  Read Replies (1) of 52237
 
Yes, that is true. I was focusing on one part to make a point. The "jist" of what the person in that previous post stated was market had been consolidation, so that supported his thinking that portented a good bullish move up. The consolidation itself was much too short for this kind of observation. But when price action is considered that lead up to this consolidation, it paints a markedly different picture, a picture of strong buying interest. That is the message of my last post.

There hs been no extended consolidation after the sell off. And there has been no touchback of key support. Both would of been classical factors that would of pointed to a further bullish move up. However, price action and market sentiment painted a different picture. Call this part of the "new" TA. :-)

Bob Graham
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