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

To: Galirayo who wrote (34666)	11/2/2000 6:29:41 PM
From: Paul Shread	Read Replies (1) \| Respond to of 42787

No getting around it: converging boundary lines in a rally are bearish. It could rise for a while, but it's either going to drop fast in the next week or so, or it's got to take off like the Dow did to negate it. I listened to everyone try to make bullish arguments on the rising wedges in July and August, and they both went on to do what rising wedges do. They are a bear market phenomenon, and it would be hazardous to ignore them. The fact that they are still appearing means that the trend is still bearish, and it would be wise to vacate short-term positions on a clean break of that lower trendline.