Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bearshark who wrote (37952)	3/4/1999 8:16:00 PM
From: Chip McVickar	Read Replies (2) of 94695

bearshark, If the 30 min charts lost their H&S patterns..... There's one in the 60 min..... iqc.com It's good Looking and seems completed.....maybe for tomarrow or Monday If you look at the daily charts for both....the last 6 week pattern looks like a hudge coil....ready to unwind. INDU held your required move. If this consolidation is realy a correction without the downside prices, then this H&S could also break-down with a shot for the old Highs. This would suggest 1340± for the SPX. One more consideration....Indexs and their largest components see a Lots of retirement money, it's the season. This would hold up indexs and support an otherwise weak market on the volume side. Some Big News like last August is needed to jolt this market to serious new lows. I don't believe tomarrows employment data will drop the market. Chip

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