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Technology Stocks : INTEL TRADER
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To: Berney who wrote (6131)5/30/1999 1:12:00 PM
From: Trading Machine  Read Replies (1) of 11051
 
PBTB, some secondary analysis.

Looking at the daily OEX, the pattern that has been formed in the last few days is a "stick sandwich". It is a reversal pattern with confirmation suggested. The rules of recognition say that in a down trend the last down day is followed by an up day that trades above the close of the previous down day. The third day is a down day with a close equal to the close on the first down day. Looks like this fits perfectly with a close on the 25 at 647 7/16, the next day 5/26 opens at 647 7/16 and the third day, 5/27 closed at 647 3/4 after opening at 659 3/8 which was approximately the range of the previous day, within a 1/2 point.

Sure 'nuf the fourth day 5/28 was an up day, so if we have another up day on Tuesday I will contend that the worst is over and the down trend is reversed, unless there is another pattern reversal to the down side.

So if Tuesday is up I will probably go back in at the close and play like I know what I am doing. gggg

CU TM
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