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

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To: dennis michael patterson who wrote (20994)	5/7/1999 3:02:00 PM
From: Robert Graham	Read Replies (1) of 42787

When the price did not pop by 1:30 PM, it did call into question this move as being a false move. It was also too predictable. Now we are at 3:00 PM. We shall see. This may turn out to be another "late" market. The DJIA did break out of its consolidation and is putting in a small intraday flag pattern on the 15 minute chart with a possible retest of its preious high as a target. The SPY has moved up into a new congestion pattern within a former congestion area. So no breakout here, but the SPY is attempting one. The market is still trying to move up from here. I think the NASDAQ will be following to attempt its upside pennant pattern on the 15 minute chart. The long bond is having trouble selling off more. But I think this is placing a over on any additional gains in the market. Bob Graham

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