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Strategies & Market Trends : Waiting for the big Kahuna

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To: Chip McVickar who wrote (37948)	3/4/1999 12:23:00 PM
From: bearshark	Read Replies (1) of 94695

Chip: The rally that I have been waiting for may have finally arrived. I hope so anyway. Message 8101579 Message 8122614 The above are not predictions because I cannot do that. However, they are simple reads of data that I collect to reflect the stored energy of the market. Others use terms like oversold and overbought. I use them too. I would like to see your high target on the INX to be reached and even moved up to 1280 or so. I would like to see the INX reach the top of a formation that still looks like an ascending triangle. The bottom part looks like it was pierced just a bit yesterday but still is intact. Those H&Ss appear to have failed--but maybe it is too early. The formation that I am most interested in--because I trade the DJX--is on the INDU. It looks like a symmetrical triangle. The best part of the INX and INDU triangles are the volume. The volume was declining throughout the formations as it should. The INDU triangle top--within the next couple of days--looks to be at about 9500. If this rally moves to there and stops, I would be more excited. If we can get a breakout of these triangles one way or the other before we get to their apex, we could get a good move. I am hoping for a breakout of the INDU triangle and a retracement to the point of the apex before the real move is made. It takes that long for the other numerical stuff I do to catch up to the breakout. If everything hits at the same time, I will not need to make another trade for the year. We made it through your time target. What I am looking for during the remainder of the day is a false move down between now and 2 PM but this time a clear rally at the end of the day that will leave us somewhere around 9450 to 9500. That would be consistent with your targets for the INX. The ARMs is showing money is out there. My paws are sweating and itching from my greedy thoughts.

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