Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (1929)	6/6/2000 10:40:00 PM
From: bearshark	Read Replies (1) \| Respond to of 33421

John: Here is the INDU chart from Yahoo set at the maximum. It takes some effort but you will see an inverse head and shoulders from the 1968 peak through 1982. The low in the INDU was put in during 1974 and we moved from the 800 area in 1982 if I remember correctly. From 800, we moved to 11,700. (If you can find a good chart of the INDU from 1968 to 1982, the pattern will be much more clear. quote.yahoo.com^DJI&d=my In 1999--I think--I noticed the pattern in the Nikkei. I posted something on the BK or MDD thread back then playing with projections using the October 1998 lows as the inverse head. quote.yahoo.com^N225&d=my If this massive bottoming pattern holds the lows and completes the complex right shoulder, we could be looking at a few years before a true breakout is made. Once this bottoming pattern is broken to the upside, it could be spectacular. If the breakout from the INDU pattern in 1982 is any indication--and I think it is--a breakout will be extremely powerful. The key here is that we are talking years.