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


To: GROUND ZERO™ who wrote (28104)9/17/1998 4:02:00 AM
From: Gary105  Respond to of 94695
 
GZ and Karl, agree with your assessment on at least short term pop (will it continue to 200 d MA or will today be it???). Personally I think we begin to correct today - although if there is strength today it would send a very powerful message.

Technically it looks like a large "wall of worry" has been established to climb.

Fundamentally - while economies are slowing worldwide, the last IMF publication (in May) predicted that Asia would grow next year. The next IMF publication is issued in October. If the forecast holds (I think it will be tempered) then the markets are looking ahead.



To: GROUND ZERO™ who wrote (28104)9/17/1998 8:28:00 AM
From: Arik T.G.  Read Replies (1) | Respond to of 94695
 
>>Apparently, the market is telling us something.

Japan's Nikkei is showing a H&S pattern, target 12000.
France's CAC-40 leading Europe today to a combined 4% drop.

Futures down 20 pts.

The world markets are telling us there's a serious recession threat. The US market was partly deaf, partly preoccupied to pay attention. It cannot ignore the global turmoil much longer.

ATG