Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Chip McVickar who wrote (42137)	7/21/1999 5:37:00 AM
From: bearshark	Read Replies (2) of 94695

Chip: Here are the two posts that I had over on the "Systems" thread. We did get the drop I was anticipating. However, when it came, I was still surprised by its significance. Without going back to the INDU chart in the second post below, we should be at the top of the INDU triangle. There is a good deal of buying power available in this market. That could be used to propel us to the next level. However, the data I use to gauge buying power often looks the same as it does when we are approaching a decline. So reading all of it becomes an art. Then trading off of it is one stretch further. That is why I hate to post this stuff. Everyone's methods should be designed for their own understanding and use. Mine sure are. Message 10446359 Message 10512532 So we should have a base between here and 10,700 on the INDU if we will move up again. If we go through 10,700, I will probably reverse course. Following is a good example of a triangle holding its apex after the breakout. beta.iqc.com The apex is around 325 on the IIX. The DOT has an apex at around 640. These charts have had a difficult time moving through the apex and have been bounced back.

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