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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: donald sew who wrote (36509)11/28/2000 11:31:13 AM
From: Paul Shread  Read Replies (1) of 42787
 
SPX may be negating its own falling wedge breakout. Given that we've now been below the SPX 94 log trendline for 3 days, and have broken it by 2% on a closing basis, the classical prediction would be for a bear market. Next major trendlines are about 950 SPX (84 log), 8200 INDU (84 log) and 2300 COMPX (90 log). We're not likely to hit all three, but I wouldn't be surprised if we hit one or two, as we did in 98, when we hit the 84 log on the INDU and broke the 90 log on the COMPX, if I remember correctly.
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