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Strategies & Market Trends : The Millennium Crash

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To: Moominoid who wrote (3724)	10/26/1998 10:33:00 PM
From: bobby beara	Read Replies (1) of 5676

Minor change reading in the McOscillator today and last Thursday portends to a big move in the next several trading sessions. It's time to break out of this low volitility band. I look at some charts that look toppy and others are looking ready to break up and right now UP looks like the path of least resistance. If we were still in a bear market or corrective period, we would have turned down significantly by now, given the high Oscillator reading on 10/20. In February and March we continued to rise in the face of overbought readings (rsi over 70). The last time we had 7 consecutive up sessions in the Dow was in June 97. If that is a good indicator of a thrust out of the bottom, the next peak would be December for earnings warnings. bb

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