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Strategies & Market Trends : Tech Stock Options
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To: Jay Scott who wrote (53482)9/22/1998 7:59:00 AM
From: donald sew  Read Replies (3) of 58727
 
JAY,

>>>>>> I'm using P&F charts for the indexes and they've been very accurate lately. Based on them, I'm also looking for the DJIA to make a run at 8100-8150, especially with carryover from overseas markets this morning.

What your cycle analysis manages to add, however, is to allow us to keep one eye out for a change in the recent trend. It's been my experience that the P&F chart patterns only last so long, then the breakouts from those patterns can be devastating. <<<<<<<

I am really not familiar with P&F charts. Last week it was indicated that they turned positive and I believe it was indicated that unless there was a 6% reversal it would remain positive and the market will continue to head up. What would negate the UPTREND that the P&F charts are calling for? Lets say we retest 8095 again, would a drop to 7400 or 7000 negate it??

Seeya
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