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

To: bobby beara who wrote (23503)	8/6/1998 5:34:00 PM
From: yard_man	Respond to of 94695

Transports sure confirmed the rally today. <g>

To: bobby beara who wrote (23503)	8/6/1998 7:12:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 94695

The low vol on that MSFT shoulder is also confirming (many other large cappers had similar moves today or knee jerk bounces off their 200 dma). You also have a H&S pattern forming on all the indexes as they sit right on their trendlines. My guess is they will be broken and soon. If history is any indicator, the right shoulder from a mkt top is very tiny and very short-lived. when that neckline is broken, the ensuing decline is often horrendous. Despite CNBC's blah blah about great breadth and how we have turned around, they're full of crap and (along w/ the rest of WS) trying to hold this drunken party together even though we've run out of beer. We bounced back from a SEVERELY oversold condition and the best we can muster is less than 2 to 1 breadth? Come on. That was the weakest I've seen. I wouldn't be surprised to see the NASCRAP give it all back tomorrow. -Lucretius