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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (11567)12/14/1997 8:20:00 PM
From: bearshark  Read Replies (4) of 94695
 
Hi GZ:

I did my charting on the NASDAQ and the DJI for the weekend. As you know, everything is subject to interpretation. So here is mine.

I did not have the daily closes on the NASDAQ, so I had to use an already prepared chart. If we break below the lows of October, I will have a confirmation that the NASDAQ is in a bear market. (My chart was so bad I could not be sure we were not already below the October low; if we are, then the bear is already confirmed in the NASDAQ.)

For the DJI, my next resistance line is at 7550. I think that is the same level that you mentioned. After that I have a more important resistance line at 7150. If 7150 is taken out, I have a bear market confirmation in the DJI. Both of these lines move higher daily.

But remember, what do I know.
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