Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: TATRADER who wrote (4098)	1/24/1998 8:28:00 PM
From: cloud break	Read Replies (2) of 7396

Hi Mark, A belated Thank You for your APCO response regarding overhang. I agree with Lizzrd that this could rally into earnings, "if the market lets it". Question is, will the market, in it's current state of uncertainty, allow anything to rise. Did Dr. Zeev make the call of a lifetime? The broadening top formation on the Dow and S&P's is broadening out even further with lower highs on each rally and a steadily accelerating down trend line (second fan line of an accelerated down phase?). The pattern on the Dow suspiciously looks like a complex H&S top. The Dow is currently resting on the 200DMA at around 7680. The rising bottoms line established from the Dec '94 bottom was support for this October's mini meltdown to 6975. I would suspect that if that support is taken out we would have a test of the neckline at around 6400, IMHO. Measuring objectives from that point are moot. Mark, your generous giving of your energy is welcome, as is, my gratitude to the LizzrdKing for creating this thread. Regards, danny

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