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Strategies & Market Trends : today's chart -- Ignore unavailable to you. Want to Upgrade?

To: TechTrader42 who wrote (1148)	10/20/1998 11:37:00 PM
From: MechanicalMethod	Read Replies (2) \| Respond to of 1267

Brooke, Dell gapped up, couldn't go higher, broke below yesterday's low, and is near 51 support. If Dell had gapped down, it would have likely gone up today beyond Fri's high. But it didn't, and probably there's meaning in this. Perhaps 51 won't hold and instead of trending, Dell will congest between 41 and 60. This is the second inside bar on the weekly chart, breaking below the first inside bar will cause suspicion we go lower. It doesn't mean a downtrend is taking shape yet because we're within the range of that expansion bar from 3 weeks ago. It will likely be which side of that bar we break that determines direction. Dell is an excellent buy in the low 40's so it's not likely to break down easily. The uptrend is very much intact at this point. Osci