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Strategies & Market Trends : Waiting for the big Kahuna

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To: Gersh Avery who wrote (34373)	11/24/1998 11:11:00 PM
From: bobby beara	Read Replies (1) of 94695

Gersh, tanks for da memories. After noticing GZ's pitchfork made a stab at the spx yesterday, I did one on the NDX and we are about 1-2% of touching it's upper tine. By my wave counts we are due for one more upleg in the inuts and the techs. With MSFT going to new highs I would expect some more bullish exhuberance to give tanks for -g- In July the NDX peaked a day or two after the Dow & the SPX. Been noticing that the USDX is nearing it's upper band and is getting extended, while GOLD has completely diverged from the CRB that has been walloped over the last several trading days. The bands are squeezing on gold and I would expect some large volitility in gold over the next month or three. Are we making a double bottom in the CRB? or are we going into deflationery Mythman abyss? Another thing to ponder, if we do make a reversal around here, will will be setting up a massive divergence in the McOscillator with a 200 something top and a 50 something top and the inverse on the indexes. As we've come up from the lows we have taken out every prior resistance and made it support. A failure to do that at this level would be bearish. bb

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