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

To: Barbara Barry who wrote (30150)	10/4/1998 1:38:00 PM
From: HairBall	Read Replies (2) \| Respond to of 94695

BB: Since the price top in July, the moves down have been, three successive bear flags. (Within some of the flags one can point out bear pennants and wedges.) In each case the bear flags have oscillated back up to the horizontal trend line of the lows of the previous flag. This has proven to be controlling resistance to the rising bear flag patterns. Thus, culminating with the resolution of the bear flag pattern and the expected break to the down side. If this pattern continues, that would portend a drop to approximately 6500 to extend the pole and begin the next flag. The fact that the market closed up Friday, may have already started the process to negate the continuation of the bear flags scenario. Pole formation, most often, requires significant moves in the same direction in sequential days. I believe Monday and Tuesday or crucial to continue this pattern and need to move down sharply! Of course, the negation of this pattern would not necessarily signal an end to the overall downtrend! Maybe just a shift in the overall pattern! Charting: (Dow Industrials End of Day Semi-Log Chart with Theoretical Data.) BWDIK Regards, LG