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Strategies & Market Trends : Tech Stock Options

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To: HairBall who wrote (53324)	9/19/1998 9:40:00 PM
From: donald sew	Read Replies (2) of 58727

LG, On the DOW, I see the possibility of an ascending triangle forming: 1) UPPER TRENDLINE at 8095 - connect the intraday high os 8/31 & 9/16 2) LOWER TRENDLINE - connect lows of 9/1 & 9/11 As an estimate the lower trendline looks like it at 7700 in 2 days. Now, here's the opposite of a possible positive outlook of an ascending triange, and that is ANDREW'S PITCHFORK. If I am correct, there is a possibility that an ANDREWs PITCHFORK is forming, with approximately a 45 degree angle to the DOWNSIDE. For those not familiar with ANDREWS PITCHFORK, this could be a really bad negative for the market. For now, it is projecting a major decline below 7400. It is suggesting an even greater decline than the previous STAIR-STEP from 8600 to 7800. And it is correlating somewhat with my Fibinocci calculation of 6600 range. The ANDREW PITCHFORK & FIBINOCCI CALCULATION are just secondary projections and require alot of confirmation, so I dont want to scare everyone. For now the market is slightly positive for the short-term and we will soon see how long that will last with the current downswing. Seeya

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