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To: Boplicity who wrote (43052)10/1/1999 1:43:00 PM
From: Jim Willie CB  Read Replies (1) | Respond to of 152472
 
<TA> longterm perspective on major indexes, weekly over 3 years

looks to me as though we have both Dow and S&P returning to a major support level after making new highs... Dow checking back to 10,000... S&P checking back to low 1200's... some call it "horse rears his head before running"... I prefer "he sticks his neck out the window for a peek before the entire body"... others like "a stumbled first step before full speed"

FrenchMan, I know you speak perhaps with tongue in cheek

but clear signals like a few hundred Dow drop on a billion shares traded with partial afternoon recovery... they just dont happen that cleanly

this is a slowmotion grinding correction... postLabor rally was a no-show... combine with October jitters... at most another week of this Nervous Nelly bullshit... after the Fed tries to scare some valuation out of stocks next week, we rally balls to the wall

/ Jim Willie