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


To: donald sew who wrote (34609)11/30/1998 11:51:00 AM
From: bobby beara  Read Replies (1) | Respond to of 94695
 
Donald the Oscillator will go into negative today. I don't think the bulls will be able overcome a reversal day like today, if they do I would load the boat with shorts. I think the buying climax came last Monday as we went to new highs and got everybody bullish, then the retail investors and the 2nd string pushed up the SPX and the junk internets up on Wednesday and Friday, perfect top making. Psychological reversal point - Monday after a holiday.

RUT made a double top off stiff 400 resistance, tax loss selling should take this baby straight back down.

The April top produced a nice fib .382 retrace, the same here would put a bottom in the 1080-90 area a breach of this support on big volume would be bearish.

Echo indicator working -g-

bb