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Pastimes : Ask da_cheif -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (7851)	1/14/2002 4:31:16 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 8150

David, The DJIA monthly chart is a fascinating pattern, both in the bars approaching the peak in Jan 2000 and what has happened since. Certainly one can see a series of lower lows connected to the most volatile months declining from the Jan peak, but the highs and internal bars of all the others is not so clear. This pattern certainly contains some serious weakness, but does not show a sequential bear, but taken in the context of the 30yrs monthly chart is rather a struggle within a bounded flat starting in Aug 1999. In Pitchfork terms: There's a rising lower tine on the monthly DJIA..., resting today around 7977, this fork will hold the market. However, break this area with any bar's high closing lower then it's lower tine and the Dow's going to 6,000, and our country into serious problems. Chip