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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: nicewatch who wrote (16006)	2/18/1999 4:33:00 PM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 44573

Frank, Thanks. Here's my longer term view. I think the DOW, SP, and the NAZ have all bottomed here..... For the DOW, the high made last July at about 9400 was tested this past November and new highs were made in December. We pulled back and have been regrouping just around that level. I expect the highs to be attacked and overrun. For the SP's, a stronger market, has a very similar pattern with support around 1220-1230..... this is why I'm an aggressive buyer on any sign of strength today..... For the NAZ, there are two highs in 1998, the latter high is higher, and that lets you draw a resistance line across those tops. That line is rising. In December, we've punched through that rising resistance line and have just sold off twice to test that line, once in January and once now with a higher low on that rising line, with the market being above that line. I believe that line is now support. This is what I see in those charts. This ignores all other technicals and all fundamentals. The charts just keep looking good. If we don't move higher from these levels, then the bull is surely dead..... but I think the bull is still very much alive..... GZ