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

To: Chris who wrote (26324)	7/31/2000 10:32:03 AM
From: Paul Shread	Read Replies (1) \| Respond to of 42787

Two historical tidbits: The Dow broke a broadening top in early August 1957 and bottomed in late October. Particularly relevant because the first half of the Dow's diamond pattern was a broadening formation completed earlier this year. Worst Diamond Chart Ever: Hudson Motors (NYSE:HD, now Home Depot), 1946, broke its diamond to the downside, went all the way to the lower tip of the diamond, rallied back to the upper boundary of the diamond, then plummeted, all in a span of three months. The equivalent move in the Dow would be a drop to 9700, a rally to 11,000, and a plummet to 8,500. Not necessarily going to happen, but it's the ugliest example I've seen.