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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Chris who wrote (10589)	6/21/1998 3:29:00 PM
From: sean sanders	Read Replies (4) of 42787

Chris, NDX - Well we could have a really sloppy, upward slanting H&S formation here also, but I'm not leaning on that yet at least until we fall say below the trendline connecting 2/17, 3/9, 6/3. Another possibility is that we just completed a double bottom formation, which would take the index up to ~1336 above the previous high; although again this will take a lot of positivity on parts of the investors to push past that recent high. Maybe look for it to stall at the old high levels and form a big double top (all of this is just speculation ;). Indicator wise - Some of my long term indicators are turning up, the shorter term and middle term are doing the pos. divergence thing (I have seen these do this often with double bottom formations); but like always look for confirmation with price. I can remember PACC and watching it neg. diverge for quite a long time before it decided to drop. Also (I have no idea if this is a reliable tech tool yet) RSI chart formation appears to be a inverted H&S formation. Oh I have your old TRIX cross in one of my templates and the 7 crossed the 14 just a bit ago ;) Overall picture - If the NDX crosses below the indicated trendline with some volume to it, put your seat belts on; perhaps look for it to cross and test it from the underside then drop. If NDX doesn't cross below the above trendline look for it to compleat a double bottom and reach the old high or even above. Or (I just noticed this), watch for NDX so that it doesn't complete a broadening formation, instead of a double bottom. And finally perhaps we will just see the NAZ form many more small 'hills' as it has been doing for the past 6 months. So keep an eye on that trendline and if we have a real positive day tomorrow cancel that broadening formation and look for the double bottom to complete. any comments? what is GET showing you? Sean Sanders

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