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To: Debra Orlow who wrote (56472)	10/27/1998 12:36:00 PM
From: HairBall	Read Replies (1) \| Respond to of 58727

Debra: Regarding your Dow Industrials Descending Triangle. Bull Flags and Pennants are bullish formations portending a normal break to continue the current market direction which has been up. DESCENDING TRIANGLE formations are less likely to be found at reversal points, as this would be IF the market reverses. It is always wise to find confirming formations of the Dow Industrials with Indices that contain the same stocks. (IE: SPX & NYA) Note that one could change the observation of the Bullish Pennants for the SPX & NYA (after today's price action so far) to ASCENDING TRIANGLE formations in these two Indices, looking at the intraday actual 60 minute interval charts. Both formations are bullish!. That is why, I am inclined to view the Dow Industrial formation as a Bullish Flag or Pennant. (Depending on which chart you are looking at: Theoretical or Actual.) Just food for thought... BWDIK Regards, LG