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Strategies & Market Trends : The New Bull Market. -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (874)	6/27/2002 5:46:05 AM
From: GROUND ZERO™	Read Replies (3) \| Respond to of 1750

Yes, this is the very chart I've been looking at... off the highs made around March, 2000, there's a very clear down trending channel off the descending highs and descending lows... each low is lower and each subsequent high is lower and also weaker... I agree we've about reached the meaningful support across the two previous lows around 950, this should give a good bounce to the index, but each subsequent high appears weaker, that's the key... if you follow this channel, it takes you to where the first possible significant bottom could be, that would be around 680... there are previous lows and highs early on in the chart at that 680 level... I'm not suggesting the SP's will sell of into the 680 level, but if it did, that's where good support ought to be... personally, I believe Templeton, I think we have another seven 1/2 years of equities trouble, probably til around the year 2010 when the next bull market will be under way..... GZ