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Strategies & Market Trends : Technical Analysis - Beginners

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To: shasta23 who wrote (8812)	10/16/1998 11:30:00 AM
From: David R. Evans	Read Replies (2) of 12039

Hello Stefan, The Market may indeed move to higher highs BUT, I would wait until it stabilizes before I made a move...... The other way to play it is to stay "short term" and keep a finger real close to the sell switch... Let the chart tell you which way to go and then keep a real close eye on the chart....... Now, on the other hand, you can take a longer term view of the Market and decide by either using longer term indicators OR weekly charts, which way the Market is moving and stop looking at the daily stuff.... When I look at the Dow on a daily chart, it is LONG.... When I look at the Dow on a weekly chart, it is just starting to turn long.... Now that does not mean that it will not gain or lose 100 points tomorrow.... It only means that it may be starting to establish a up trend that if confirmed by the weekly, will turn out to be a nice move up.. Dave Evans

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