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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Warthog who wrote (41384)	8/2/2002 11:15:37 AM
From: Doug R	Read Replies (3) \| Respond to of 79324

Well here we are again...with the DJIA on the ACT. Considering how often, and over a few years, the IL remained an influence, it just may be that the ACT could be treated by the index as a regression line for a while. There's not a whole lot of precedent for it but so far an intuitive possibility exists. If the ACT gets blown out of the water, one would have to be prepared to see the DJIA go to 5500-6000. The question becomes, "has the strength of corporate America and/or investor psychology been so damaged that resulting valuation of 5500-6000 is not unlikely?" Anyone who would like to weigh in on this question is welcome to do so. One argument supporting 5500-6000 can be found here: contraryinvestor.com Doug R