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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (16540)	9/28/1998 6:02:00 AM
From: John Hunt	Read Replies (2) \| Respond to of 18056

A Little Monday Morning TA To Reflect On Dow approaches apex of bearish "ascending wedge" gold-eagle.com << Our ascending wedge quite clearly appears on the verge of exhaustion, and it may have already peaked. We accurately predicted last week that a touch of its trendline top at approximately DJ 8175 would send the Dow plummeting quickly and sharply downward (though the Dow's fall of Thursday, Sept. 24 didn't quite measure up to expectations in the way of severity). Nevertheless, prices have worked their way toward the tip, or apex, of the wedge and should commence falling toward our cited Gann support level of DJ 6975 this week, possibly even on Monday the 28th. Admittedly, this is a bold assumption in light of Federal Reserve Chairman Greenspan's coming interest rate announcement on Sept. 29, but it is not out of the question and from a technical standpoint should be given preeminence as the most likely scenario. >> Buy on the rumor, sell on the news?