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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: dunlurkin who wrote (13188)	6/14/2001 3:34:19 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

Hey not so fast. I wrote this article 2 weeks ago for Trading Markets: hardrightedge.com Alan

To: dunlurkin who wrote (13188)	6/14/2001 4:03:58 PM
From: Don Pueblo	Read Replies (1) \| Respond to of 18137

Good that you are looking at the chart, but that's not a top formation, it's a consolidation. Dangerous to read a top formation into a pattern that is not a top. There's a reverse H&S between March and May. What you are looking at now is called a "descending triangle" by John Murphy. Others call it a "flat bottomed pennant." It's a valid pattern, and it will be confirmed. QQQ will stop at around 37-39. Look for a consolidation pattern after that, there will be one, and it will tell us which way the chart will go from there.