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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (53320)	9/19/1998 8:21:00 PM
From: HighTech	Read Replies (2) of 58727

Drawing some trendlines on IBD's Dow chart, there is a primary trend line since the bottom which when placed within a channel (rough because by hand), to break out on the upside, it would need to reach 8200 and about 7600 on the downside. A break on heavy volume of either one of these would imply a continued move in the same direction. This trend is relatively flat and would imply a good deal of slow upward direction and considerable consolidation. A shorter-term trend line/channel which is much more steep to the upside has the following break points: Upside 8900; Downside 7800. This would most likely not hold because of the negative bias the market seems to be taking but if there are surprises to be seen, 8900 could be seen in a quick hurry. Just fiddlin' with the charts. HiTech

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