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

To: adcpres who wrote (2656)	3/12/2001 4:32:46 PM
From: Michael Watkins	Respond to of 52237

However, is a pattern that spans over 2 years really significant and valid? GH The important thing is that when price moves sideways for a long time, it is neither going up nor down. Should price break up or down from a long sideways consolidation, we can expect it to have a long term directional move. So the important thing, my opinion at least, is that we note that a very long consolidation has been taking place; we can then drop down to the weekly and daily charts and determine when a trend in the shorter time frames has developed. Trade the trend in those time frames. Do not bet against the trend. Be protective at least; short at most. Between the NYA (NYSE) and SPX solidly breaking down now, there is reason for serious concern.