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

To: Electric who wrote (20987)	5/7/1999 11:27:00 AM
From: Robert Graham	Read Replies (2) \| Respond to of 42787

I suspected some kind of move up, but the market still looked weak to me. Either the market was going to go down more before its move up, or it will move up to then surrender to more selling. The gaps up at the open and the market's response to this event showed the markets hand. And guess what? Gaps are being filled with lower prices possible. This on the heels of a positive jobs report with enough time to digest and respond to the report. The market is talking right now. Right now it is saying that it is not ready to move up. This means lower prices are possible. I would watch the downside right now and see that important supports are not broken. This afternoon by 1:30 PM may provide a different picture. This is because I found that when the market is nervous and cautionary like this for an extended period of time as indicated by price action of the leadership and indices, it may take additional time and tentative tests of resistance (and support) before choosing direction. Bob Graham