Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bobby beara who wrote (33537)	11/11/1998 8:45:00 PM
From: donald sew	Read Replies (1) of 94695

Bobby, >>>>>>>>> . I believe my wave 5 call on the OEX was precise and Friday was the top. I believe this may have been the momentum peak of this rally. churning pullback, then a blast to the price peak, a possible double top in the indexes or marginal new high. Don't like that the transports failed to give a dow theory buy signal. Bear market rally, too much speculation, no base building. <<<<<<< Yeah, Im starting to agree with that position. The BKX, TRAN, XAL broke their trendline to the downside recently and went lower today. Since such trendlines are rising, the divergence to the downside from the trendline is magnified. I suspect that the trendline will become the resistance. Also take a look at the RUT. This rally is narrowing in issues - not a great sign of strength. I was actually hoping for a upswing into the FOMC meeting to retest the recent highs - we may not get it. Still sticking to my trading range trend and that the mid-term top around 9091, if it gets that high. Seeya

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