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

To: Paul Shread who wrote (28044)	8/21/2000 11:02:43 AM
From: Robert Graham	Respond to of 42787

Price is testing the 20 EMA on the 1-min chart and putting in some "picket fencing" there, which are narrow side-by-side bars. In some markets this terminates a move. But in this market that is in congestion, usually leads to whipsaws on its next move. Looks like the pullback has been limited so far. So I would anticipate that price will end up putting in another attempt at a move up for a smaller test of top on the 1-min chart. Instead, price has been congesting on a move up. update 11:06 AM EST Looks like price put in a move down instead before it arrived at today's high. Now just below the 20 EMA on the 1-min chart. Lest see if the 20 EMA on the 3-min chart is calling to price. Note the pattern here in relationship to previous highs? Not a sign of strength. But in this market, I think price will have at least one more chance coming up soon to test the intraday high. And the pullback has been limited so far. Bob Graham