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

To: GROUND ZERO™ who wrote (42483)	7/30/1999 9:21:00 AM
From: bearshark	Read Replies (3) \| Respond to of 94695

GZ: I saw in one of your notes that you said this could be a failed move up or the start of the real thing. That is about where I am too. Yesterday's move stopped at the 10,700 level--right at the apex of the INDU triangle below. beta.iqc.com I had been waiting for this test but the timing of it was about 5 to 7 trading days different than my expectations. In short, I was off. Maybe this market has changed. I am still pondering it. Another interesting chart is the IIX and the test of its triangle as shown in this chart. The charts of other internet indices look very similar. beta.iqc.com The IIX tested its apex, failed to move through it, and moved down. The IIX could confirm that it is in the second leg of a bear market by dropping below its low of June. So we have the more speculative end of the market with a good view of hell and the less speculative end of the market trying to avoid the fall. Many other indices are at areas of important support at this time so I do not think it is necessary to post more charts. If this move up--assuming it lasts through this morning--fails within the next several days and the INDU moves under 10,700 convincingly, I think we will move down quickly and sharply. All indices may get a better view of hell soon if that occurs. Of course, I could be off again. <gg>