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Strategies & Market Trends : Why the markets will continue higher... -- Ignore unavailable to you. Want to Upgrade?

To: bearshark who wrote (440)	1/9/1998 7:06:00 PM
From: bearshark	Read Replies (1) \| Respond to of 745

One last hurdle to fall through. Hi GZ: Well, it certainly looks like we had a drop through the bottom of the triangle to signal we are in a reversal. I had one other short term support line that was mangled. We also have the outside reversal. However, there is one last hurdle to fall through. That is a long-term trendline starting from November 1994 that has never been successfully penetrated. The DJI has bounced off of this trendline several times and it should now stand at about 7200. I now expect this trendline to be taken out. However, until then, this bull still clings to life. I have not had a chance to do any calculations yet, but I believe we are in a strong oversold condition.