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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (16884)	10/23/1998 7:04:00 PM
From: Jan Robert Wolansky	Respond to of 42787

Chris, I think we are going down for the following reasons: 1) double consecutive bias arrows down on dow jones daily GET chart (yesterday and day before yesterday) 2) Triplet StochRSI's extremely elevated--there's no room left to go up, and in fact StochRSI(8/5), which was at 97.9 yesterday for the dow jones turned down sharply today 3) close for dow jones is stuck at the top of the GET auto trend channels (using 2.5 standard deviations), and therefore has plenty of room to go down without negating the recent upward bias 4) dow jones can't seem to get through 200 dma 5) Jerry Favors thinks the market has topped out (I've got alot of respect for his analysis) and is going down The magnitude of the move down will be very helpful in clarifying whether we are now in a bull market or whether this recent move up has been just a bear rally (I am still leaning towards a bear rally, but am trying to keep an open mind). Jan