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Strategies & Market Trends : Interest rate rise will trigger market crash / correction
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To: DanZ who wrote (34)4/13/1997 4:06:00 AM
From: Dale Schwartzenhauer   of 52
 
Well, I've done ok so far, but I was a little early on the entrance, and these things are very time sensitive. I appreciate your input. As a technician you probably realize that the fundamentals you mentioned are widely accepted and thus heavily discounted. At the same token, the market is the best leading indicator of what is happening in the economy. If it's heading sharply lower, the economy is not far behind. As for interest rates, you probably know that the bond market made a new low on Friday, and stocks (i.e. the averages) followed suit in aggresive fashion. What's more important from my perspective is that this market is making its first 5-wave decline since the peak above Dow 7100. That means that following this current decline, the market should bottom and stage a 3-wave bear market rally. I expect this to get underway by Tuesday or Wednesday. From the peak of the next rally, a more serious decline should develop that has been described as the May-Day massacre. The actual target I heard was around 4200, but I rounded it up to 5000 because that's far fetched as it is. We'll see what shape the averages take the next week or so and take our cue from that.

Dale
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