The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: ivan solotaroff who wrote (7339)	11/7/1997 4:06:00 PM
From: Doug R	Read Replies (1) of 79326

Ivan, I think you spotted it on the high volume day with no more downward movement. The technicals were looking very grim. Short-term it was extremely oversold and at the very least, a technical bounce was due but the volume said there was something more than that in store. There's probably something still quite negative lurking behind the technicals though. The quick move up here doesn't reverse the weakness just yet. Keep an eye on the 3 day RSI and 2,1,2 stochastics for overbought readings. It hasn't broken the price downtrend. Doug R

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