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Strategies & Market Trends : Waiting for the big Kahuna
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To: Chip McVickar who wrote (38669)3/18/1999 7:55:00 AM
From: bearshark  Read Replies (1) of 94695
 
Chip: I was trying to write the note quickly. It should be the 25-day cumulative advance/decline numbers for NYSE stocks. I also use the 25-day advancing and declining volume numbers for NYSE stocks.

I don't use the pitchfork but I have found that my thoughts about market direction are very close to the thoughts of GZ who uses the pitchfork. I have pondered this from time to time.

I looked at your pitchfork and it will be declining over this period. It appears to be at the 1250 to 1240 level over the next few days. I would be surprised if we get to those levels but I would be very happy since that would equate to about 9450 or 9500 on the INDU which I think is the dominant index at this point in time. That would bring the INDU to the apex of the triangle it exited.

I would not be surprised if we see a quick decline followed by a quick advance today or over the next few days. At any rate, this is another excellent time to read the market for signs of its next move.
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