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: MechanicalMethod who wrote (21204)	9/10/1998 12:44:00 PM
From: Doug R	Read Replies (1) of 79460

Osci, Slow down guy. I think it's just best to sit this thing out until the dust settles. The DJIA is back below the '94 bull leg trend line but the S&P 500 and NASDAQ are still above their respective trend lines. The R2K is still...well, a mess but you may be right about a possible bottom on it. The long bond is still on a tear and probably will be until Greenspan gets together with the rest of the open market committee. It's setting up a situation where the long bond will top out for quite a while (several months at least) no matter what they decide. I'll have to run a complete checkup on the indexes again this weekend. Just so I can get a sense of how much more focused the technical profile needs to get before a stable trend can be identified. Right now the situation reads down but the size and speed of the moves make it impossible to depend on any trend. A Clinton resignation would not affect the global and domestic economies at all but the prospect of resignation or impeachment is sure causing a lot of technical static right now. When it clears up, I should be able to get a direction out of the indicators. Looks like refi time. If my 401K can't make 30%+ this year at least I can save 20% on my mortgage payments. Doug R

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