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Pastimes : Trading the markets..... -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (997)	11/30/2000 12:19:12 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 4583

GZ, You maybe right about buying in here for short-term, but the smells of a world wide slow down and recession may keep the markets from climbing very far. My technical measures on the SPX weekly charts have not been bearish since 1994. They entered that area 3 weeks ago and suggest that the markets will be down for some time to come. The Dow weekly has been down since Feb and almost made it out at the end of Sept. I personally have not been bearish since 1991 and at the currencey crisis of '98, but this may be slowly changing, and I have to look very carefully at the prospect..., that these market highs of 2000 (and their shoulder highs) might be in place for many months to come. As you said, early next year is important for your 18 month outlook. With the low of 1311 this morning, the SPX has reached a median line off 7/17 and a lower tine off 2/8. Another chance to rebound...? BTW, There's also a median line here at 1310 on the weekly SPX charts from July 98 4th week.