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Strategies & Market Trends : The Millennium Crash

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To: bobby beara who wrote (2815)	6/17/1998 6:35:00 PM
From: HairBall	Read Replies (1) of 5676

Bobby, what a day. IMO, if you chart the DOW IND. Then, plot a 20 day Weighted Moving Avg., coupled with a 20 day Weighted Moving Envelope (with a 3% Vertical Shift). You will have a better range of the channel it trades (closes) in. The 20 day WMA (being the center of the channel) as of the close Tuesday was 8885.76. This general area (+/-) 5, proved to be resistance to the DOW's uptrend today. At present, the DOW is now trading in the lower half of the channel. The DOW rarely trades (closes) outside this channel and when it does, it works hard at getting back in. IMHO BWDIK Regards, LG

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