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Strategies & Market Trends : Charts With An Attitude; Trading In & Out

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To: Dave H who wrote (4374)	12/17/1997 10:39:00 PM
From: Ocote	Read Replies (1) of 4701

I notice INTC broke out from a H&S in July 96--with a vengeance, and that it broke down breifly before doing so. I'll try to take that as a warning not to get too overconfident. I've been looking at the CPQ chart again: iqc.com I'm interested in what happens when the price tries to get above the neckline at 58, which now seems to be resistance. Notice the volume dries up. Also notice how the volume jumps up for every down. I suppose if my TC2000 were working right now I could see that on the OBV indicator. Also, the RSI dropping down below 50 at a sharp angle(as it did today on the 60 min chart)has preceded a previous drops of various size. We'll see if that happens tomorrow, since it could not rally above 58. I'll go look at MRK and INTC now. Ocote

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