The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Grandk who wrote (32848)	12/5/1999 4:37:00 PM
From: Doug R	of 79425

J, Back to your question about those gaps up all over the place. I had said, "...it's set up to (but not verified yet) turn back down...". The reason for waiting for verification rolled in on Fri. A good chart as an example would be LGND (or a ton of others)...gapped up on Mon...threatened a pullback with the possibility of leaving an island top...turned back up to make the initial gap appear more like a breakaway gap instead of an island top. The possibility that all those gaps up may be breakaway gaps was the other side of the discussion I had with milesov. The island top scenario is looking less likely. I still expect the next significant top on the Dow will be 14,200. That would get the S&P up around 1750ish. The Naz...well, it's gone nutty so I won't even fathom an estimate on it. Doug R

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