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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: DD™ who wrote (8067)	9/23/1998 1:02:00 AM
From: RFH	Respond to of 42834

If I recall, DD, that benchmark low was SPY at 109. If this is so, you are still unfortunately under water, correct? Never fear, for that 109 benchmark may mark the overhead resistance of this market in the near term, and you should get out unscathed. TA says, "Old bottoms become new tops." A chart of SPY shows multiple bottoms bouncing off the 108 - 109 area in April through June, and another pause at this level throughout most of August. Bob says new highs in '99, and I agree, but I also agree with his "test of the bottoms" before that happens. Most feel that it should happen quickly, but most are impatient. These things take a lot of time to work themselves out, and IMHO, SPY in the mid 90's will indeed occur once or twice more before we see BB's prediction come true.