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Harley,
I noticed that the Nasdaq Composite broke its trend line running from April
'97 through two lows in August '97.
Does this constitute confirmation of a negative outlook for the Dow?
Steven Buss
Walnut Creek, CA
sbuss@xxxxxxxxxxx
-----Original Message-----
From: Harley Meyer <Harley.D.Meyer-2@xxxxxxxxxx>
To: rcrich@xxxxxxxxxxxx <rcrich@xxxxxxxxxxxx>
Cc: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>;
Brahm.Matthew@xxxxxxxx <Brahm.Matthew@xxxxxxxx>; randy@xxxxxxxxxxxxxxxx
<randy@xxxxxxxxxxxxxxxx>
Date: Friday, October 17, 1997 3:18 PM
Subject: Re: DJI update
>
>>
>> Simplify for us simple folks Harley. Will support @7900 hold?
>
>The DJIA is around 7880 as I type. To answer your question nobody really
knows.
>Lets be honest here.
>
>But I can tell you something. That I do know. The 4 to 5 basic patterns
that I
>have shared over the last few months tell me what will not happen. i.e.,
>
>If all the patterns indicate that the market is to move up then it will.
How
>high? I don't know. If the patterns are missing (for moving up) and if the
DJIA
>moves up, there was never a guarrantee that the market would stay up.
>
>These are observations from going back and looking at data. What we have
been
>missing is that big surge in up/down vol ratio.
>
>Until the 4-5 conditions show up again we are not going to be moving up
with
>confidence.
>Harley Meyer
>meyer093@xxxxxxxxxx
>
>
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