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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: bdog who wrote (23682)	11/29/1998 11:47:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79775

Brouhahadog, I believe what you just described is a triangle. When I posted my thoughts on the market for Oct. through Dec. I suggested that an ascending or symmetrical triangle would be set up over several months that would eventually break to the upside. Since we're at the top of what is starting to be an ascending triangle, I suspect a brief pullback somewhere in Dec. I yanked my 401K out of the S&P and put it into long treasuries again. The trend of lower interest rates will continue to a point where the market will again return to the 9300 area and really put some definition to the triangle. I will switch back to the S&P at the bottom of this pullback. The lowest it should go is 8400. From there, it wouldn't make much sense to switch out again unless the triangle broke down. BUT until there's a breakdown from this pattern, the trend is up. Doug R