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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (1411)	8/31/1998 2:37:00 PM
From: Terry Whitman	Read Replies (2) \| Respond to of 3339

<I thought significant market tops were almost never singular, and we hit 1175/9369 only once.> There are often double bottoms and double tops, but very seldom at exactly the same place. More likely, you get a secondary top that is either higher or lower. Lower is bearish, higher is bullish. I expect to see a secondary peak in the Dow 8400-8900 range (which is bearish). What we've seen since the blowoff top on 7/17, is the bubble bursting (a.k.a., a CRASH). This is the steepest 6 week drop in modern history. It is very similar to 1929. Every rally since then has been absolutely hammered. Important psychological support at 8000 on DJI and 1000 on SP500. If we can't rally some from here, selling will likely gain momentum. On the other hand, we are way oversold on the short term. Clinton's visit to Boris may provide us a relief rally to sell into. Hope this helps, TW