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Strategies & Market Trends : The Millennium Crash
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To: Stcgg who wrote (4563)10/10/1999 5:29:00 AM
From: Arik T.G.  Read Replies (1) of 5676
 
Stcgg,
Looking at the Dow chart it looks just the way you describe it, with the broken trend line from 5/28 and 8/10 lows revisited from below.
On the S&P chart, however, I think it's the other way 'round -
If the market goes under 1280 again, then it's proof that the path of least resistance is down. Otherwise - if it starts climbing again from 1305 or higher and dragging the 13 dMA back over the 200 dMA- what you see as the 1-4 of a bear leg on the Dow and is overlapping heavily on the S&P chart (can still be a leading diagonal) could easily be the ABC correction to the 10/98-7/99 bull leg.
As they say - The proof is in the pudding.

ATG
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