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Strategies & Market Trends : Point and Figure Charting
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To: Jorj X Mckie who wrote (25977)5/22/2003 5:54:55 PM
From: Bwe  Read Replies (1) of 34824
 
Chartcraft points out in today's Hotline e-mail that in December, 1994 the Dow was at 3,700. There were two weeks in a row in 12/94 with Bears over 59% which were the highest readings in 12 1/2 years. This extreme level of bearishness they believe set the stage for the huge advance shown on the excellent DJIA graph linked in your post.

Bruce
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