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

To: bobby beara who wrote (22361)	7/26/1998 10:46:00 AM
From: HairBall	Read Replies (4) \| Respond to of 94695

Bobby: You and I are on the same step. I have seen the top formations in some of the "internuts". With the market psychology being what it is in today's market, I just believe, MMs will try and keep them up as long as possible, delaying the inevitable. They may well be the panic trigger! Dow Composite, Industrials, Transports and Utilities, NYSE Composite, Russell 2000 are all below their 50 day SMA. S&P 500 Index is knocking on the door of its 50 day SMA. Both the Dow Transports and the Russell 2000 have moved below their 200 day SMA. (Very bearish) The NASDQ is still approximately 77 points above its 50 day SMA. No doubt it has reversed momentum and is headed in that direction. But this is why I said it may be the last to fall. I refer to the above moving averages, because they are references watched by the general public. Regards, LG