Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (12944)	1/10/1998 12:56:00 PM
From: GROUND ZERO™	Read Replies (5) of 94695

Hi Bill, The sell off was too rapid and wide spread. Everyone is looking at those October lows, hoping it will hold. These market never accomodate the expectations and hope of the majority. These are a few reasons: 1) the DOW has complete a H&S formation when it broke below 7700. 2) the DOW has also completed a coil, appearing very similar to a H&S pattern since the H&S pattern is slightly rising. 3) both the H&S and the coil project a measured move to 6800-6900. 4) the DOW put in an outside reversal week when it closed below 7700. This is the first time in memory. This, alone, I believe is a significant event. 5) there are numerous fundamental factors currently impacting these markets. These are five arguments which merit serious consideration. Of course, I could be wrong. GZ

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