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

To: JRI who wrote (5427)	4/10/2001 9:25:54 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 52237

Since April 4 there has been reason to be cautious on the short side. I think I may have posted this here earlier, but if not: ottographs.com The 2B (call it a double bottom if you want, its a particular variant) is a big red flag indicating potential change of trend. If you look at the two horizontal magenta lines placed around the trading range where the 2B occurs (circled) you can see that so far the upper boundary has provided support. This is all classic change of trend stuff, at least in the short term. So play careful. Of course, price is going to test the recent highs - so the 'bears' have one more opportunity to sell down the market. But I think if bears and bulls alike think things can move higher, the test will be successful and a move up will happen. How long it lasts... don't know. My bet is more than just a day or two.