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

To: Robert Graham who wrote (20273)	4/5/1999 11:22:00 AM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

The S&P 500 took off to stop short of the intraday high made two days ago. This appears to be an up market day. Key tech stocks showing good gains as leadership of the market. The S&P 500 appears to be forming a continuation flag pattern. I think it needs to move soon before it gets into the noon hour lull which may actually demonstrate an "artificial" countertrend after a strong move up like this. According to John Murphy this weekend the sell off and bounce kept that market above important support levels. Even though breadth indicators remains weak, which is a poor timing indicator anyway, the market is set to make new highs. All in all a more positive bigger picture of the market. Also I think the breadth has been improving on each rally attempt to make it above 10,000 DJIA. YHOO is doing well fueled on by an earnings play. AMZN and AOL popped up but both hit a wall at key intraday resistance that was in place during the last or the previous to the last trading day. This is representative of the multiple levels of resistance that a sell off provides stocks on a successive rally. Bob Graham