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: bearshark who wrote (300)	1/3/1998 7:01:00 AM
From: GROUND ZERO™	Read Replies (4) of 745

Hi bearshark, Yes I have been looking at it for a couple of weeks now as it continues to form. What it looks like to me is a massive inverted head and shoulder formation with the head at the October lows. This pattern suggests a measured move to around 9600 for the DOW. The three points for the neckline are the highs in August, October, and December. Additionally, triple tops like this are indeed rare and if prices move up to complete this inverted H&S, we would have a quadruple top, I've never seen such a top in any market in more than 20 years. BWDIK I have more cause to believe that these markets are poised for an imminent breakout of new highs. Roger suggests in a recent post on this thread that the top in 98 could come early in the year. I suspect he may be right. This may very well be the blowoff. Of course, if it craps out from here, all bets are off. All in all, it should be an interesting week. GZ

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