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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Magnatizer who wrote (26493)	2/18/1999 1:48:00 AM
From: Alski	Read Replies (2) \| Respond to of 79223

Dougr/Davidj, OK, OK. The reason I asked about KNDL was because I couldn't see much of anything positive, except the BO today despite the market. I'm pretty much crippled with the software and data I'm using. To get any kind of descent uptrend to use I have to go back to 97 and I can't really do that, yet, but here goes. The BO today was from a very short-term symmetrical triangle but it's mired in a longer term descending triangle. The last acceleration in the downtrend (would that be deceleration?) was too steep and needed to be reset. RSI's are starting to show some strength so the recent turn in the mid-term stochs and the bounce off the longer term support at 20 could have been a signal to scalp a couple BLT's. KNDL started to do some good things when it put in a higher low in late Jan but it was ruined by the lower low 2/8. It managed to close above the 50dMA but it's still below the 89dMA and has a bunch of downtrends overhead so it's got a lot of resistance to deal with. Nothing positive in any of the CCI's and extreme lows in the short term CCI's indicate further short-term weakness. However, KNDL possibly just put in a head on a new IHS and Accum/Dist is breaking out with acceleration in the longer term uptrends. Could be a good short-term trade coming up if it can put in the right shoulder, but it needs to put in a new higher low to get something started. So, did I get anything right? Actually, had y'all not challenged me I wouldn't have looked any farther than that recent lower low, but hopefully this was a good exercise for me. I'm still not too sure what caused it to pop today while the market was slipping so much, but it does look like 20 is a pretty solid bottom, for now. I sure hope it doesn't gap up and start a sprint to 32 tomorrow, now that I've decided it's got more work to do. <G> Alski