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

To: HairBall who wrote (35145)	12/10/1998 9:23:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 94695

LG, the Dow topping was the warning sign, a market of the real industrial/international economy and it made a nice teepee. Look at MRK and PG with big bearish gaps on earnings warnings. The fluff topped a couple of weeks later and makes a significant part of the spx. Dow did the same thing fall 97. Lower non-confirming high in October to higher high in the SPX. This time we had a blow-off non-confirmed high in the techs and big cap internuts. I don't think anybody should ignore the significance of the upsidedown W forming in the SPX, with historic bullish sentiment and put/call ratios comparable to the 10/97 top. Notice the lackluster showing of the InutPO's today -g- bb