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Strategies & Market Trends : today's chart

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To: Claud B who wrote (991)	8/14/1998 9:19:00 PM
From: Claud B	Read Replies (1) of 1267

**CHARTS UPDATED** Of the four charts I've updated this week, the most important one is Bonds & The Dollar. Last week I pointed out that this would be a crucial week for the Bond market. Based strictly on TA, it had to make its move or be in trouble. Well, lo and behold, Both markets made new highs. Not only that, but history was made this week in the Bond market. Since the 30-year Treasury Bond has been in existence, this is the lowest yield EVER for this instrument. And the Dollar Index isn't far behind! What does it all mean? THAT's the basis of my less-bearish stance on the market this week. It's not important WHY the bonds and the dollar rallied. (I know....safe haven, etc. etc.) It's important that they did. Just like stocks, as TAers we shouldn't care why a stock went up....only that it DID go up as the technicals had alerted us. I could write chapter and verse here about what all this means fundamentally. But I'll spare all the boredom. Suffice it to say...they went up and will probably continue to rise. I will add this little aside. The dollar is acting more and more like a surrogate for that "yellow glitter" people used to flock to in times of economic turmoil. Enough. A quick comment about the other charts. There may be one more spike up in the vix....and that should be it for awhile. The Russell is holding above a key support level.... and the Summation will turn soon....probably early-middle of next week. IMO. Remember folks, they don't ring a bell when the market hits bottom. Check your charts and see how many have already put in important lows. Especially in the tech sector. All have a great week-end and excuse the ramblings. Claud pw1.netcom.com

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