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

To: Monty Lenard who wrote (31592)	10/14/1998 10:58:00 PM
From: HairBall	Read Replies (1) \| Respond to of 94695

Monty: The Market as measured by the Dow Industrials is very close to making a decision. The latest upper descending trend line projected forward one-day is approximately 8100. (End of Day Theoretical Semi-Log Chart connect highs of 7/20 to 10/12 and project. Lower horizontal trend line is still at 7380.) Is this triangle formation the beginning of a Bear Rally and possibly the continuation of the Bull or is it the long overdue Bear. The Market will decide, soon! If the Dow penetrates it to the upside this could be a signal that at least, the Bear Rally has further to go. A pull back from these levels could easily resume the downtrend. Don't bottom fish and be careful with short positions until the Market speaks. Regards, LG