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To: donald sew who wrote (56333)	10/26/1998 10:54:00 AM
From: HairBall	Read Replies (2) \| Respond to of 58727

donald: I am glad you pointed out the Bull Pennant on the Daily Chart. The Descending Triangle on the 60 minutes chart is a formation contained within the larger daily formation. On my semi-log end of day theoretical chart the formation looks more like a Bull Flag. Bottom of poll starts at the low on 10/8 and Top of pole at the high on 10/20. Flag parameters are: Upper descending trend line is established by connecting the highs of 10/20 and 10/23. Lower descending trend line is established by connecting the lows of 10/20 and 10/22. Extended Bull Flag projections for one day are: Upper descending trend line: 8550 to 8575 Lower descending trend line: 8250 to 8275 My technicals gave a short-term sell signal after Friday's close for the Dow Industrials. And, my technicals are close to giving a short-term sell on the NASDQ Composite. (Next day or two.) If this Bull Flag holds formation, I expect this pull back to be minimal and be supported by the lower descending trend line of the Bull Flag. However, if it fails a re-test of the recent lows is possible! BWDIK Regards, LG