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

To: Chip McVickar who wrote (37846)	3/2/1999 9:11:00 PM
From: yard_man	Read Replies (1) \| Respond to of 94695

Here's why I disagree, but I'll try and search for the chart you are looking for: iqc.com I will be shocked if the S&P rockets up to 1277 ... and more than a little perplexed.

To: Chip McVickar who wrote (37846)	3/2/1999 10:54:00 PM
From: bearshark	Read Replies (1) \| Respond to of 94695

Chip: I think a better case can be made for two other formations. The first is the triple top on the INX. I could not get your IQ chart to show up so I went back and looked at the INX myself.. Here it is 207.95.154.130 The tops are far enough apart to make it valid and the valleys are low enough from the top to make it valid. They are also rounded a bit which is also an indication of a triple top. Currently, the INX sits right at the valleys on the formation. Those are the dips between the tops. If we have a gap down open on heavy volume tomorrow morning we should be below 1200 in a hurry. You can take the volume from the INDU chart and it is declining as it should. The alternative formation is an ascending triangle which would be bullish. However, the INX now sits as low as it can get for this formation to be valid. It would have to head up tomorrow morning. There is another ugly symmetrical triangle on the INDU with the proper volume formation.