Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (39034)	3/25/1999 5:43:00 PM
From: Moominoid	Read Replies (2) of 94695

SPX made it back to the 13 day MA from the 34 day. That's much better than it did in July 98. In Oct 87 the decline was much slower and by the time it was getting back to the 13 dma it was way below the 34 day. In fact this move is a repeat of mid Jan 99 more or less. Bounced off the 34 dma and 13 day BB together as well as a trend line drawn from 8 Oct through the mid-Nov low. Now we are on a lower trendline which coincided with the 34 dma and 13 day BB. I remember that Edwards and Magee have some fan shape type sets of trend lines like this. Unfortunately I didn't pay too much attention to that bit... had to take the book back to the library. Maybe someone can help out or I'll take a walk over there... David

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