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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (4620)	2/22/1998 10:09:00 PM
From: Christopher	Read Replies (1) \| Respond to of 7396

Mark, ADX is the first thing I look at when I study a stock. I don't know about you but I consider the spike on SRSL that occured on 07-08-98 to be the right shoulder. I have seen similar spikes in books that were considered by the authors as shoulders. The neck line is down sloping extending from 04-29-98 to 07-07-98. I see the double bottom you are refering to. There is also double tops right before it. I think that a trading range and double bottoms can be looked at but you would probably end up with very close conclusion in both cases. Good luck with trading.