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

To: Bull RidaH who wrote (26472)	9/4/1998 8:21:00 AM
From: HairBall	Respond to of 94695

David: This site will support my position. chartpatterns.com Donald Sew believes it is a rectangle pattern. It is very close to a rectangle, but I believe the descending angles on the highs and lows make it a flag. Both patterns would portend the same break! Go to this site: quote.com Use 15 min INX Chart (S&P 500) The flag poll descends from 9/2 (1010 area) to 9/3 (970 area). Then the flag begins to form. The flag has not resolved, yet! Please note : An ascending or descending triangle is a variation of the symmetrical triangle. In order for an ascending triangle to form it would call for a move up into the start of the formation. The highs would have to find resistance at the same price point and oscillate to steadily rising lows. The break norm to be with the direction of the trend. As we all know, these formations do not portend the direction 100%! BWDIK Regards, LG

To: Bull RidaH who wrote (26472)	9/4/1998 9:12:00 AM
From: epicure	Respond to of 94695

X saw a flag on the 5 min dj chart- but it got destroyed by an upmove that then turned it into a rectangle- then we had a move to the downside.

To: Bull RidaH who wrote (26472)	9/4/1998 1:21:00 PM
From: Death Sphincter	Read Replies (2) \| Respond to of 94695

David............do you see the megaphone? also called a reverse symetrical or expanding triangle for those not familiar with a megaphone ....it is part of an ABC UP from the 9/1 low....with A up starting at 9/1 low...after five waves up we went into a expanding triangle, a megaphone, which is the B wave down, C up will target 70+ S&P points up..starting now carl

To: Bull RidaH who wrote (26472)	9/6/1998 11:05:00 AM
From: Arik T.G.	Read Replies (2) \| Respond to of 94695

David, Looking at the big caps it seems there is little room to go up, while downside is still great. The index stocks: GE- New low. Local support from 9/1 and 9/3 at 78 broken on Friday. The 200 DMA at 82. The first close under the 200 DMA was 8/31, then 9/1 the stock closed above it, and the last 3 closes were below it- 9/1 is therefore the DCB (Dead cat bounce). 13 DMA at 85 and accelerating down to meet the 200 DMA. Look also at last week's volume. MSFT- The broken support at 103 was tested 9/3 and held as resistance. Local support at 98 1/4 also failed in the aftrernoon. If you look at 3 days SMA from the top, the E count is painfully clear. 3 of 3 is underway and nothing can stop it. KO- Looks oversold, new low with higher RSI. Has room to go up. XON- Looks like it has started 5 of 1 ahead of the market, and completed 2 of 5 on Friday. MRK- Not clear. Closed only once under 200 DMA (now at 120). Tuesday will tell. Under 119 1/2 it's doomed. INTC- The company has it's future behind it IMO, but the technicals are not that clear. PFE - Turned down Thursday from underneath the 13 DMA, which is also where the broken support was. Gapped down Friday to open and close just beneath the 200 DMA, starting a clear 3 of 3. Under 94 on Tuesday will confirm 3 of 3 of 3 down, where the 2 is intraday Friday. Got to go ATG