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

To: AlanH who wrote (10261)	6/15/1998 11:51:00 AM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 42787

bummer and this is another one of those exciting days.... dont forget this little pattern interesting to see if this is one of those 11 days or one of those 3 days To: +lisa (45773 ) From: +lisa Sunday, Jun 14 1998 8:15PM ET Reply # of 45846 here is a little interesting pattern for you pattern freaks from LIM reasearch (courtesy of another thread member) Q: What happens when there is a big short covering rally on the last day of a week in which the Dow has declined more than 2%? A: While you might think the late day rally on Friday was encouraging, history paints a different picture. On the Monday following the type of movement we saw last week, the Dow is down over 4% on average in 11 of 14 past occurrences. Two weeks later, the Dow is still lower (over 6.5% on average). Bottom Line: It really isn't safe to back into the pool just yet. In fact, an attack of the congestion zone and the trendline on the Dow weekly chart at 8000 8250 seems likely given the fact that momentum (stochastics) seems to be deteriorating rapidly. Finally, this query might also act as forewarning for what could happen in Asia and Europe overnight. Fact: A 6.5% decline from Friday's close would bring the Dow to 8250, which happens to be the top of the support zone defined below.