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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jon Koplik who wrote (4992)	10/25/2001 11:57:54 PM
From: John Pitera	Respond to of 33421

Hi Jon, ... John Roque really should have gotten technical and called the Wednesday 10-17 action in QCOM an outside reversal day, which he describes, but does not name. It's a day in which the stock, commodity, currency etc has a range expansion where both the high and the low are greater than the previous day and the chart in question, closes outside of the range of the previous day, but in the opposite direction of the prior trend. This type of chart action can be called a Key reversal day, but it does not guarantee that you have a significant change in trend. It does put you on a heightened sense of alert that a change in trend may be taking place. But it does not cement the deal that a trend change has occurred. John