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Strategies & Market Trends : Waiting for the big Kahuna
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To: Peter Singleton who wrote (23512)8/6/1998 6:48:00 PM
From: HairBall  Read Replies (1) of 94695
 
Peter: It is really simple from my view. An equal move down in the Russell 2000 at its peek would not have provoked questions of "is this the end of the bull market". Then I ask you why, ask the reverse now?

I do not try to pick the exact top and I do not try to pick the exact bottom. Close works for me. Time will tell us which way the market is heading.

A "down trend" has been established that is what all the hoopla is about. It really is, too early to tell if it has reversed. Look at the daily charts. In the days to come, old support lines have become resistance lines. Look for the ability of indices to break above those lines intra day and then close above those lines. Eventually they must make their way to new highs to re-establish the bull.

BWDIK
Regards,
LG

EDIT: Of course if the indices continue to set lower lows, the trend remains down.
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