Why the markets will continue higher... Message Board

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Strategies & Market Trends : Why the markets will continue higher...

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To: GROUND ZERO™ who wrote (289)	1/2/1998 5:19:00 PM
From: bearshark	Read Replies (1) of 745

Hi GZ: I have a downward sloping resistance line that looks like it is right where we are at on the DJI. I also believe that I have a very high short term overbought condition. I will have to chart and do some calculations later. This should result in the market going down some here. But these short term overbought and oversold conditions come and go quickly. The last oversold condition I had was on 12/23 which grew stronger on 12/24. On 12/31 it moved to overbought and today it appears to be strongly overbought. I agree, it looks like 1 or 2. I would pick 1. I had been expecting the market to melt-up on the 5th if we had this kind of rally after Christmas. But I will not argue with my charts and stuff--especially when you agree. It is amusing that we use two different methods of analysis but we generally come close to each other in our points and conclusions. On my guesses at the BK for next year, I had to assume that I would have had a bear market confimation in the DJI which I never had. So as yet, I am not a believer in my BK projections.

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