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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: E. Graphs who wrote (92855)7/28/2001 6:25:54 PM
From: E. Graphs  Read Replies (1) of 95453
 
O/T ....One more chart: GE

Here is another example of falling relative strength over the same time period which has culminated in a massive head and shoulders top. It's interesting that there is a downward spike attempt just after the new year. This spike seemed 'planned' to settle the measurement early for this bearish formation .....the same thing happened in the chart of the Dow...... because I watched that break happen without much fanfare, on low volume, no fear, it got scooped up very quickly, no harm done. Not liking my charts getting ripped off <g> I was hoping it would all come back to roost, and for now it has. Perhaps the much anticipated retirement of Jack Welch on September 7th will finish this one off......or, perhaps the importance of these topping formations are gone with gold and, like the fiat dollar, easily fixed. All I can say for sure is that we're going to know soon.

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