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Strategies & Market Trends : Tech Stock Options

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To: dennis michael patterson who wrote (55146)	10/9/1998 11:44:00 PM
From: HairBall	Read Replies (3) of 58727

dmp: Dow Industrials End of Day Theoretical Semi-Log Chart Cycle Indicator Signal Descriptions A = Sell/Buy Alert B = Short/Medium Term Sell/Buy Signal C = Medium/Long Term Sell/Buy Signal D = Long Term Confirmation Draw the upper descending trend line by using the highs of 7/17 and 9/29. For the lower horizontal trend line I find 7475 is closest. The upper descending trend line projected forward one-day for Monday is approximately 8075. I believe next week is going to be a key week. As of today's close my cycle indicators are giving “A” buy alerts on the Dow Composite, Industrials, NYSE Composite and SPX. Also, moving toward giving the same signal on Dow Transports, NASDQ Composite and Russell 2000. (The above mentioned Indices are currently in "BCD" sell signals!) Of course, I must mention that the Dow Utilities have received a “A” sell alert! With the overall market, moving counter to the norm with regards to interest rates, (IE: Interest rate drops normally help the market!) coupled with the Utilities being much more sensitive to interest rates, a divergence between the Dow Utilities and the rest of the Market is occurring. (The Dow Utilities are currently in “BCD” buy signals!) I believe the Market has either begun a rally or at least started a sideways period. This pause in the downturn started at the reverse off the intra day lows yesterday, Thursday 10/9. If the market makes a significant break above 8075 this will portend further movement to the upside with next resistance at approximately 8250 then 8350. The market as measured by the Dow Industrials is closing in on a decision point. The above converging trend lines will require a decision from the Market! A significant break below will confirm a major bear market and a significant break above will at least portend a considerable bear rally! BWDIK Regards, LG

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