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

To: Chip McVickar who wrote (37964)	3/5/1999 12:33:00 PM
From: Daflye	Read Replies (2) \| Respond to of 94695

A/D has been fading all day, TRIN hitting .6, TICK has been downtrending all day, yet DOW is only 20pts off high. OEX and SPX appear to be rounding down, NAZ has been underperforming, but their trading has been screwy. Up/Down volume on the NYSE has gone from 6.5/1 to 4/1 approx, but VIX has flatlined around 26.2. Should see a little selloff soon, if internals confirm it, then yep this is a fake. D edit: TRIN is meeting resistance at .6, it has filled the gap, so ta speak. hmmmmmm

To: Chip McVickar who wrote (37964)	3/5/1999 1:35:00 PM
From: bearshark	Read Replies (1) \| Respond to of 94695

Chip: A few minutes ago the INDU was up 227. However, the volume looked too low. My guess is that we get a pullback in the last hour for an up-day of about 160 points on the INDU. It should do that. The apex of the triangle looks like about 9400 to 9450. This weekend I will plot it. I have been using the eye-ball technique and the paste a Post-it to the screen technique. I think MMM would appreciate the latter. If everything goes right we should have a nice little upside-down cup form and then the retracement to 9450 to 9400. We are clearly through the INDU triangle. Over the last few days block money was going into the INDU at an abnormal rate. However, that was not happening in the INX. This should be a narrow rally based on the largest stocks at first. Another thing to think about is that the INDU stocks account for 25% on the INX. (At least the last time I calculated it.) So the INX is a bit weaker than it looks after mentally subtracting out the INDU stocks. I think we have a selloff in the last hour. I don't know. We just have to see.