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

To: Arik T.G. who wrote (28514)	8/28/2000 8:28:15 AM
From: donald sew	Respond to of 42787

Arik, >>>>> You're expecting a small pull back, but even a small pull back will break all the bearish wedges to the downside, and imply further weakness. OTOH a run up today will negate the Class sell signals AND break the wedges to the upside. Today looks to be an important day and one should follow today's trend <<<<< That is correct. Keep in mind that to negate the CLASS 1 SELL the market would need to be up strong and close at the intraday highs. There is another possibility. The DOW/SPX/OEX/SOX are very close to their lower trendline. NAZ/NDX are close but not as close. Once one of those indices breaks the trendline to the downside we need to see some sort of follow-thru rather quickly. In other words if there is a break to the downside, that index should not just hang around for several days. If it does then that would be a sign that either the formation was not valid or the the break may be negated with a reversal to the upside. I will also be watching to see downside volume on a break, for a clue as to the pullback strength. If there is no volume then that would be a positive or less of a negative. Keep in mind that some of those wedges are also not huge. The SOX's wedge only has a measurement of 50-75 points.