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Strategies & Market Trends : market dissection: all methods considered... -- Ignore unavailable to you. Want to Upgrade?

To: eichler who wrote (92)	8/29/2001 10:30:04 AM
From: eichler	Read Replies (1) \| Respond to of 450

just messing with the daily compx chart a bit to get an impression or feel for what's up today. home.earthlink.net If we close right here on the chart, I would be firstly impressed with the second black candle, another Black Maribozu (and in the back of my mind I'd be thinking about another tomorrow with the possible 3 Black Crows) which would be quite negative. Not sure if the lower trendline now forming a channel is a valid line or not, but it does give me the impression there is no serious support on the chart before 8/22 low of 1817. The indicators are following through on the reversal downwards, adding to the generally negative tone of the chart. If we break that last low, I don't see how anything really positive could be construed from that. Still, would be a good idea to keep gem's 1760 area in mind as possible support for a turnaround. To summarize, daily chart looks more bearish today than yesterday and there seems to be room below before any serious support.