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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (57890)	8/23/1999 2:22:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 86076

They only need this ONE reason to "feel safe to buy" -g- <<Market will likely commence falling this week The broad U.S. equities market, as measured by the Dow Jones Industrials and NASDAQ Composite, flashed a bearish signal late last week and will likely experience weakness over the next several days. Our basis for this assertion is the daily bar chart for both the Dow and the NASDAQ. For the week ended Aug. 20, the Dow closed at exactly the 11100 level-and extremely important resistance level. In doing so the Dow formed a chart pattern known as a "tweezers top," where prices are halted at least twice or more by a chart resistance level that acts as a veritable brick wall and prevents prices from penetrating higher. >> gold-eagle.com

To: MythMan who wrote (57890)	8/23/1999 2:30:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 86076

MM, that is what i find so baffling about this market...that one after the other, tried and trusted indicators are failing. we have a massive divergence between industrials and transports, we have an ongoing a/d line divergence, we have the MER non-confirmation, we have the Fed firmly embarked on a rate hike cycle and yet stocks are going relentlessly higher. possibly negative divergences should be interpreted as positive divergences, as contrary indicators. the theory being that the negative divergences are keeping many technically oriented people out of the market which provides fuel for further advances as the rally keeps going.