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

To: bearshark who wrote (37823)	3/2/1999 8:19:00 AM
From: bearshark	Respond to of 94695

Vitas: I was toying with some charts and found this ugly formation. 207.95.154.130 It is an ugly symmetrical triangle with the correct volume structure. Since the apex of it is still fairly far to the right of the formation, it still has the potential to be significant. If this formation acts as it should, after we break out of it, we probably will get a return to the apex. By squinting at it, I see an apex at around 9400. If this formation works out--and that is always an if--then we could have a very nice opportunity at about 9400 in the next few weeks. With a useful formation like this, I now have a little bit more information in my deliberations. This formation worked very well last May together with some other volume information. We broke below it, then tested the apex, held at the apex, and then collapsed. I think I remember posting to you about it then. Although this is only one index of many, I think it currently is the most important. The RUT and the INX have already been beaten up on the moneyflow data. However, the INDU is still trying to hold-up. It is going to lead one way or the other.