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Strategies & Market Trends : Aardvark Adventures -- Ignore unavailable to you. Want to Upgrade?

To: ~digs who wrote (466)	5/3/2004 3:25:01 AM
From: ~digs	Read Replies (1) \| Respond to of 7944

Recent action in the United States stock market is signalling a crash may be imminent, says a leading Philadelphia-based analyst. kiplinger.com A study of the price movements of the Dow Jones Industrial Average for the past four years reveals the presence of a series of repetitive topping formations followed by severe declines, according to research by Robert McHugh of Technical Indicator Index. The pattern has appeared five times since the index of 30 leading US industrial stocks reached its record high in January of 2000, and each time the ensuing rout was equal to or greater than the preceding market gain. The current topping formation, according to Mr McHugh, represents the sixth major rebound for the four-year period and the culmination of the bull rally that began in March last year. He says the coming crash could be the most severe of all market drops seen so far because the technical picture looks so ugly. McHugh's annotated charts: technicalindicatorindex.com February 19, McHugh calls a top based on bearish divergence of industrials vs. transports: safehaven.com