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

To: bobby beara who wrote (42343)	2/8/2001 4:30:54 PM
From: Paul Shread	Read Replies (1) \| Respond to of 42787

I was referring to price/volume action within the pattern as it formed, which was bullish, and not indicative of a weak rally, as a rising wedge would indicate. The volume really didn't decline throughout the pattern either, as it should have, and it didn't pick up substantially as we broke down. Also, I never got any really clear wedge on any major index on this rally, unlike every other rally from May-December. We did get one very small wedge in early January, but it negated to the upside on rising volume, confirming the bullish view of it. I did get very clear rising channels on the COMPX, OEX and SPX; the latter two are still holding, with lower boundaries around 1325/690. I don't think we have lower lows ahead, and may not go any lower than 2500 or so on the COMPX, BWDIK.