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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (54687)10/4/1998 9:30:00 AM
From: HairBall  Read Replies (1) of 58727
 
donald: Since the price top in July, the moves down have been, three successive bear flags. (Within some of the flags one can point out bear pennants and wedges.) In each case the bear flags have oscillated back up to the horizontal trend line of the lows of the previous flag. This has proven to be final resistance to the rising bear flag patterns. Thus, culminating with the resolution of the bear flag pattern and the expected break to the down side.

Note: If this pattern continues, that would portend a drop to approximately 6500 to extend the pole and begin the next flag.

Charting: (Dow Industrials End of Day Semi-Log Chart with Theoretical Data.)

BWDIK
Regards,
LG
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