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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (22055)	8/27/1999 2:59:00 PM
From: bobby beara	Respond to of 42787

CJ, i know how the summation index works, the point is that i am making here, which many already are aware of is that the rally is very narrow (new lows exceeded new highs the day DOW makes a new high) and the oscillator usually makes a basing structure before a rally is viable - this is a process of cash build-up for something sustainable, a V spike in this indicator is rare, usually the first trip above zero line after a flush is a false rally and you then get some more trips back into negative territory, usually with lower lows on the indexes and higher lows on the oscillator setting up a bullish divergence. The move so far has just been up to the 50 area which is a weak internal momentum thrust and we are up against resistance at the 50 day band spx and the market got to overbought 70 9 day rsi. It looks like the oscillator could go back below zero over the next day or two unless breadth improves. I think too many have turned bullish and think the worst is over - and then you have Acampoora turning bullish -ggg- decline a commin. bb