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


To: Joseph G. who wrote (28544)9/21/1998 9:09:00 PM
From: William H Huebl  Read Replies (6) | Respond to of 94695
 
JG,

Yeah, I see that. My point has been that just because one or two or more indices have gone bearish, DOESN'T mean we are in bear markets ACROSS THE BOARD!

Hence, my referral to SP500.

VGY 200 day MA DIRECTION says bear and that is good enough for me.

That being said, there is no reason why the DOW can't have an explosive move to the upside and, perhaps, even carry some of the weaker sisters (brothers) along with it???

I always try to keep my eyes peeled for situations likee that because it gives me a bigger picture than just latching onto one index or indicator and painting all the markets with it!

Bill

PS And what is really buggin me now is that there are too few posts going on here on the BK for this market! Not enough FEAR??? Or maybe it is the Starr stuff being reviewed in competition with this thread!???



To: Joseph G. who wrote (28544)9/22/1998 8:05:00 AM
From: GROUND ZERO™  Read Replies (1) | Respond to of 94695
 
Joseph,

Basis the DOW, we had a major inverted head and shoulder pattern that formed the last six months of 1997 which projected a rally to 9300. That price was reached. Now, all we did was come back to test that neckline before the market resumes its upward move. I think that about sums it up.

GZ