The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Matt G. who wrote (19950)	7/28/1998 4:07:00 PM
From: Doug R	Read Replies (3) of 79269

Geez, JB just realized the S&P is going to go sideways for a while, albeit in a 600 point range with a lot of technical scary stuff like the last week or so. It only took him about 6 weeks to catch on. 2 weeks ago the market had absolutely no business making new highs...but it did and made this last drop seem worse than it really is. From here we may get a nice ascending triangle in the S&P and the Dow. I'll start moving back in the market with 401K tomorrow and try to be fully back in by the end of Oct. That says little about the small caps though. I'll get the aol abbreviation for the R2K tonight I hope and start running the chart for it. These are the ones I know so far: SPX - S&P 500 OEX - S&P 100 NDX - Nasdaq 100 $COMP - NYSE Composite $INDU - Dow Jones Industrial Average $TRAN - Dow Jones Transportation Average $UTIL - Dow Jones Utility Average COMP - Nasdaq Composite One more note is that I feel the 30 yr. bond yield has to get down under 5.5% or even as low as 5.35% before the run in the avgs. can really continue. Doug R

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