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Strategies & Market Trends : Classic TA Workplace

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To: JRI who wrote (38102)	5/6/2002 5:16:49 PM
From: Robin Plunder	Read Replies (2) of 209892

John, today MSFT, INTC and the Nasdaq showed 'three black crows', the MSFT signal was preceded by a bearish 'three methods' candle formation. The telecom index broke down from a descending triangle today, which measures to about 450. AMAT and KLAC have broken down from a head and shoulders last week. There is lots of bearishness, but with these charts how could we get much of a bounce? If we bounce, we would need to violate these charts, which seems unlikely. IBM and GE don't look too good either. I dont know what the IBM chart is, other than a stong decline, hard to find a pattern there. GE is breaking down from a broadening top, it had a weak pullback rally, and looks ready to fall further. Robin

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