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

To: P.Prazeres who wrote (31834)	10/17/1998 11:18:00 AM
From: Berney	Respond to of 94695

Paulo, Your line in the sand is similar to mine. No big surprise that it represents a 62% retracement. Berney

To: P.Prazeres who wrote (31834)	10/17/1998 2:32:00 PM
From: GROUND ZERO™	Respond to of 94695

PP, I also see resistance at around 8600 as I posted here yesterday, but I expect it to be exceeded soon enough. GZ

To: P.Prazeres who wrote (31834)	10/17/1998 10:08:00 PM
From: Moominoid	Respond to of 94695

There will certainly be resistance at this point and the meteoric rise of the indices will slow. But I think the resistance will be breached. David

To: P.Prazeres who wrote (31834)	10/18/1998 8:33:00 AM
From: donald sew	Respond to of 94695

Paulo, >>>>> I think it may run out of gas at 8650 or so....that was the support level this summer befor the water broke...but who knows???? << I believe the AUGUST STAIRSTEP is a major resitance. The HIGHEST PEAK in the AUG STAIRSTEP was 8753. The other resistance lines in the STAIRSTEP are 8689-8709 & 8564. On a statistical basis, the average rebound after a big dump is 62%. Using the DOWs HIGH and LOW of 9367 and 7401, 62% rebound would put the DOW at 8620, right in line with your 8650 figure. I feel the major resistances for the DOW is the 200 DMA which is now around 8550, then 8650-8700, then 8800. Seeya