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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (40873)	6/22/1999 10:35:00 PM
From: William H Huebl	Read Replies (2) \| Respond to of 94695

HB, Things tend to get worse at the end of the week... in bad weeks??? Bill

To: pater tenebrarum who wrote (40873)	6/23/1999 8:05:00 AM
From: bearshark	Read Replies (2) \| Respond to of 94695

Heinz: We are at a key moment. From looking at your posts, your thoughts appear consistent with mine. The SPX, IIX, DOT, INDU, and OEX all submitted to resistance yesterday as expected. For the next major move up, we need this fear thrown into the market. When most people have turned bearish, there will be a quick test to the downside that is stopped for no apparent reason. These specific actions foreshadowed the moves up of October 1998 and early March 1999. We are now within 6 trading days of this happening. For this scenario to prove correct, we must see a marked increase in volume at its start. On the other hand, a case can be made for a bear move down. That scenario can be met simply by the failure of the indexes to push through their resistance. The DOT and the IIX must push through the apex of the triangle that they left behind. These two indices previously confirmed that their moves up were over. Now they have to negate that. The SPX must move forward through the resistance it met yesterday, etc. The only way these breakouts can be done is with increased volume. That simply shows the commitment of the big money. So, I continue to watch for first half-hour volume of 130 million plus on the NYSE in a move up and over 825 million for an up day on the NYSE. Without this volume, we move down. Patience at this point will bring significant rewards.