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

To: dennis michael patterson who wrote (13670)	8/3/1998 4:18:00 PM
From: Robert Graham	Respond to of 42787

This is possible. If the market survives the selling we are seeing this week, then the market may have bottomed where it can consolidate and move up from here. We are at a very critical juncture today and tomorrow. This market needs to close above its support today. But at this point in time, I am still skeptical and see a continuing downward bias to the market unless something changes this week. So far, no downward price extention to the DJIA yet beyond its initial move below its support. Update It looks like the market closed just below its support. We will see if tomorrow confirms, and tomorrow will determine the rest of this week. This is not looking good. Financial, oil, airline, drug, and software stocks lead the decline. Notice something here? Many of these industry groups have lead the market up in the last rally. More money evidently is being taken off of the table by the funds is my thought on this. Bob Graham