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

To: donald sew who wrote (24541)	8/17/1998 8:30:00 PM
From: Paxb2u	Respond to of 94695

Don, The daily and weekly chats for the OEX, SPX, DJI, sure seem to have a lot of differences. The DJI appears as you recently described, a rectangle in a descending market( which would mean further downward movement) the OEX looks like its forming a right shoulder on a head & shoulder top which also means further downward movement but only after a few more weeks. I agree, the internals of the market don't appear to support a big upsurge. Interesting times huh? Peter :o)

To: donald sew who wrote (24541)	8/17/1998 9:25:00 PM
From: bobby beara	Respond to of 94695

Donald, the overall chartpattern we are in is a double top pattern, much like the tops of August and October and that overrules the short term patterns. We are at the focal point in concluding the double top pattern with another wave down (similar to the n225 and HSI major tops) or failing that pattern and making another run up to make a right shoulder, like we did last December 8th. I just think the sellers have run out of gas at this point and we need to get back to overbought territory before we can correct anymore, SANS a major news event. The fact that the SPX is still above the 200dma is good for the bulls. bwdik, bb