Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: D & G who wrote (2546)	7/16/1997 1:37:00 PM
From: Arik T.G.	of 94695

Why the bull... 4. Riding the mad bull From point (4) that ended this spring big correction we count to five thus: (I) is the high in late May. Note that each local low until the end of may was higher then the one before. A minute ABC reaction bring us to point (II) early June, then another perpendicular rise to high in mid June (III) when S&P 500 touched 900. Second reaction brings us to point (IV) in the end of June. Connect (II) and (IV) and the parallel highs early May and mid June and see current channel the market has formed. We are now in the middle of the third and last action (started July 1st, 1997) of the rise started in April, Which in itself is the third and last action of the three years bull, which in itself is the third and last action of the fifteen years bull dating back to Aug. '82, when the Dow was at one tenth of its current rate (the blue chips rose tenfold, WOW). 5. Why three weeks Magnifying the picture once again we start at point (IV) at the beginning of this month and start counting to five again. We have a definite (i) a week ago when the Dow was blocked by 8000 the first time around. (ii) is after the 120 points dive, and we're on our way to meet the (iii) . we still have two short up moves to complete. Each about one week long, and a tiny 100 points correction in between. That's three weeks, give or take a week. Actually I'm looking for a bit bigger (iii) a very small (v) move, so it might be just two weeks from now. IMO the (iii) would touch the upper border of the channel (S&P 500 at 955-960) and the (v) wouldn't have the strength to do so. Seeing MSFaT lady starting to sing yesterday and going up an octave today supports this. 6. Don't capture the bull by the horns. More about how to deal with the turning point itself tomorrow . Arik Don't Panic

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