Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Stcgg who wrote (29424)	9/11/2000 12:14:52 AM
From: Dan Duchardt	Respond to of 42787

Stcgg, Seriously, the double top is ominous here Yes, but... I'm not ready to call it a double top. The August 14,15 high provided support on Friday, with Dow closing only slightly below the 10dma. One bad day could take out those levels, but until that happens this looks like a normal 2 or 3 day retrace in a strong uptrend. And there was after all that long standing ominous diamond formation that recently broke to the upside. I'm not all that bullish, actually. Oil prices are scary. The Nas looks a lot closer to a breakdown at the moment than the Dow, but even there one can find Fib retraces and prior highs for potential support. I'm not even close to fully invested and that's almost a sure sign there is more room to the upside. If the nearby support breaks this week, or if the next Dow attempt to clear those April highs fails, creating a more localized double top, then I'll get more bearish. Dan

To: Stcgg who wrote (29424)	9/11/2000 6:52:46 AM
From: dennis michael patterson	Read Replies (1) \| Respond to of 42787

I read it. Sure. I'll believe it when I see it. EW analysis is like looking at a Jacson Pollock painting.