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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (37375)	10/27/2000 1:16:38 AM
From: Doug R	Respond to of 79521

Scott, VPI has managed to escape the MIMBO algorithm by exhibiting higher monthly highs since the low without a defining pullback from a definitive MIM. The monthly high of 10/99 was not higher than the previous reference high in 11/98. After the pullback from 10/99 the monthly chart went directly into a classic O'Neil cup. The attempted breakout from there is showing obviuos signs of a failed buy signal. You might think, "ok...so that buy signal did not follow through but there's still hope." The prevailing consequence of a failed buy signal, however, is that failure of a buy signal is very much a sell signal. The drop below the 7/26 to 9/26 uptrend line is such a failure. Doug R