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

To: Chris who wrote (9468)	6/3/1998 6:00:00 PM
From: AlanH	Respond to of 42787

Chris, re:today's data Here's a snapshot, no detailed analysis. (I'm off in a couple of clicks to burn some stress on the bike. Looking out the window, I've got just the trail in mind.) [10-minute intra-day compression, Daily Chart, Three Day window.] Less confirmation today in a tight early market. 10:20ET NDX signals reversal with Bearish Engulfing Lines. 10:40 INDU signals Morning Star, reversing downtrend. 11:20 NDX signals Bearish Engulfing Lines. 12:00 INDU, OEX, SPX, NDX signal Hanging Man (Kubitsuri). [Crrackk.] 2:10 INDU signals feeble Morning Star. 3:50 INDU, OEX and SPX signal Hammer on heavy volume. I have found Hammers and Hanging Men to be the most reliable formations, provided they follow a definitive trend. Morning Stars have been good for ~20 upside Dow points lately. Because we have received no confirmation on the 3:50 Hammers -- and it was the end of trading day -- I have little confidence in predicting tomorrow's open. Other charts, patterns, indicators are decidedly negative. Therefore, I will trade indices in one direction tomorrow, seeking uptrend reversals as short opportunities. (Existing positions are mostly bearish.)