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

To: dennis michael patterson who wrote (24129)	6/5/2000 9:41:00 AM
From: Paul Shread	Read Replies (1) \| Respond to of 42787

Dennis, I thought the reverse H+S in the 60-minute NAZ chart pointed to a move to about 3800 (head to neckline was about 400 points). While I'm seeing similar patterns in the 60-minutes charts on the SPX and OEX, I'm not sure if this is enough to qualify as a bottom, and am thus expecting a FIB retrace to 4200 or so at best. The diamond patterns in the weekly Dow and SPX charts are an awfully bearish sign; don't know how soon they'll complete, however. They could take until early fall to complete, or they could break this week. Paul

To: dennis michael patterson who wrote (24129)	6/5/2000 10:00:00 AM
From: bobby beara	Respond to of 42787

dennis, remember our discussion of failed H&S patterns on emc last june, we have the same thing here in the ndx. plus i don't know how anybody can argue with a gap across a supply line, not being a change of trend. also there are a lot of doubters of this rally, and i read everywhere that people haven't climbed on board yet, whereas in march many were on margin. the case for higher fed rate is losing impetus, he's got to be careful about overdoing the tightening, with many of these eco indicators showing big reversals. booger bee