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Strategies & Market Trends : The Stock Market Bubble

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To: Les H who wrote (819)	7/26/1998 1:43:00 PM
From: bobby beara	Read Replies (1) of 3339

Les, the head & shoulders pattern on the a/d line projects to the feb 97 peak which would be 427 on the nyse and around 803 on the spx, these are also the targets on the failed H&S from last fall (yes failed because the target was 803, actual 855) Interesting lack of posting on this thread in comparison with the may/june correction, another sentiment indicator? seems most of the bears have thrown in the towel. It is said that crashes don't happen off the price peak, however if you look at the blood and guts of the American economy the DJ65, we made a price peak in April and just recently retested and failed that peak. I think the internet mania and tech mania has skewed the results of the indices. There has to be a new twist each time at the peak to fool the masses, as Mark Twain says, History doesn't repeat itself exactly, but it rhymes. bb

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