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

To: bobby beara who wrote (26627)	9/5/1998 10:25:00 PM
From: HairBall	Read Replies (1) \| Respond to of 94695

Bobby: Dow Industrials...look at the intra day actual 60-minute chart. Note the highs downward trend line. Friday's close came right up to that trend line. (7640) I think this is the resistance point to watch on Tuesday. A break (more than just a violation) of this trend line would be significant! In other words the market needs to go down at the open to keep the trend line valid. A break to the upside, may portend a pivot point. Note: There are similar trend lines with the same rise to that line at the close on Friday for the following indexes. (Use the same intra day actual 60-minute chart.) S&P 500, NYSE Composite, NASDAQ Composite, OEX Would appreciate your comments! Regards, LG