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

To: donald sew who wrote (24447)	6/19/2000 2:04:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

A double top sent price down outside of a large triangle. I anticipated a price reversal which did happen. Then price continued resolving upward only after a smaller triangle was put in today. This lead to another temporary price reversal that lead down. Now the direction in price continues up after a rebound followed by a contraction in price at an interesting spot. A look at the 45-min and 7-min SPOO charts to understand what I am talking about. Right now price is moving through the apex of that larger triangle that price initially resolved down from. It has met some resistance there. Stochs of the 15-min chart has touched its 100 signal line. The 7-min Stochs has already touched its signal line and has been showing a negative divergence. The 5-min and 3-min are also in place. So I expect price to have another opportunity to pull back when its 1-min Stochs also falls into place. This can make a small double top that price can resolve downward. So I think the downside is limited at this point, and current trend is up. I am anticipating a pullback to test support to happen before a continuation of the current intraday trend. It will be worth watching the extent of that move down. Now there is always a chance of a strong continued move up in this situation. But I am anticipating at least a pullback to some form of support before this happens. Bob Graham PS: The 1-min Stochs has now fallen into place. So this should be interesting. PPS: I am placing in a buy stop at 1500.25 and a sell stop at 1497.75 just in case.