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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: P.Prazeres who wrote (17560)	4/28/1998 11:56:00 PM
From: robert b furman	Respond to of 94695

If new lows on a 3 day moving average exceed 40 - In my world that is a large Get Out(warning) . A small cap rally at the very end of a long run is strike two.As these small caps rally and set new highs- if they set back just a little - one must be out before they regain past new highs. It is this failed top that proves it is too late. As the small dogs get their day and prove they have no more power the end will have already been signaled. I have noticed and studied this price action back in 87.I dont want to put words in other peoples posts but I am in general agreement with Jim Hopkins Head vs Tail analysis. His analysis is derived by watching the big megas (the focus of his interest) My focus of interest has always been low priced smallcap stocks.I believe we are watching the same rotation of money working out of the overvalued liquid stocks chase into the undervalued small cap stocks. As this market falsely hangs overvalued in all price ranges the sentiment of all participants changes in that there is no final undervalued haven to engage in . As a last salute to market hipe the large caps have a last advance to a dow record with very few new highs (good advances however)Some market maven (undoubtedly on CNBC) Will issue a sell everything with the sweet italian maria bartaroma at 4:30 p.m. By the next morning you can already turn out the lights. 87 it was glanville I dont think we have even come close to a test without at least dipping to 50 day m.a.DJ 30 A sideways glideslope to the 50 day m.a. would actually be a strong sight if tsv remained positive ( I use it on 18 day ave ) So far SP500 have provided good support at 50 day MA - tsv remains pos with key support test due wed or thursday at latest.NOTE spy tsv went neg today Am new to EW concept but TC Worden shows this to be healthy correction still not BK - current breakouts are harder to find but there are some - anic,gems,plab,veco,vlsi- am watching wg400 industry group very closely - like indexes only wed or thurs left to keep tsv pos and above breakout with fallback range