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

To: Chris who wrote (9608)	6/4/1998 8:08:00 PM
From: AlanH	Respond to of 42787

Chris, Candles snapshot. [Nothing fancy, just very high-level stuff.] Lots of non-confirming formations. NDX was the easiest to read and react, although it kept teasing with non-confirmed Hanging Men. 9:40ET NDX Bullish Engulfing lines with mild confirmation. 11:10 OEX, SPX Bullish Engulfing lines with strong confirmation. 1:00 NDX Evening Star (bearish). 1:50 NDX Bullish Engulfing lines with good confirmation. 4:10 OEX Shooting Star without benefit of confirmation. In brief: The trading day required reacting to initial Bullish Engulfing lines for each index and patiently reviewing apparent reversal formations. While many formations appeared, confirmation was either non-existent or no clear prior trend existed. Indices performed on a percentage basis as follows (from worst to best): UT, TRN, RUT, INDX, SPX, OEX, COMPQ, NDX. The UT was negative (possibly due to US$ or tomorrow's data); all other indices were positive. The above ranking supports the fact that the broad market is less involved with current rallies; techs appear to be bouncing, yet RUT is not experiencing similar recovery. **Child safety warning: Don't use candlesticks as an exclusive trading tool. The enclosed silica pack is for freshness and should not be eaten. Never run thru the house with a lollipop in your mouth.