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Strategies & Market Trends : The Millennium Crash

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To: bobby beara who wrote (3582)	10/1/1998 6:33:00 AM
From: Arik T.G.	Read Replies (1) of 5676

BB, >>Longest break in this thread that I can remember. Time for the millenium crash. I noticed the lack of -g- on that post, and agree. Today we will most likely break the lower line of the parallels. The rising parallels from 9/1 to 9/24 were the reaction to the break of the OEX 520. An enormous resistance had been built around that area, one that even the rate cut + end of Q window dressing couldn't pierce. 9/24 -9/27 marked a very important S.T. and L.T. decision point for the market. It could have decided to break above the 520 line, and continue inflating the bubble, as absurd as this may sound in light of global economy and markets, or it could have decided to give up on the 520 and try attacking the lower line. After breaking below the OEX 492 rising trendline today, there are NO SIGNIFICANT SUPPORTS until much much lower. The Millennium Crash is on again. ATG

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