|
PureBytes Links
Trading Reference Links
|
At 01:42 PM 10/17/97 -0400, Greatelto@xxxxxxx wrote:
>Clive....
>
>I agree with your assessment that the group seldom looks at chart patterns,
>the old basic technical analysis approach. I would be curious to know if
>there are any "oldtimers" in our group who rely on visual chart pattern
>interpretation. If so, why don't you speak up....maybe we can get a dialogue
>going.
>
>Regarding your wedge pattern comment on the DJIA, going a step further, if
>the DJIA does not hold the 7580-7600 area, it breaks down from a descending
>triangle which gives a count to the 6900 area. I am not saying it will do
>that, but the pattern is there if it does.
>
>It is interesting that the blue chip DJIA has been outperforming the NYSE
>Composite Index for about three years now. Recently, this performance
>pattern has broken a long term uptrend line. This tells me a definite change
>has taken place in the markets. The mid-cap and small-cap stocks should now
>be the better performers while the large-cap or blue-chip stocks will
>probably be under performers. I think you can see a confirmation of this in
>the small-cap chart patterns. Many of them are in or coming out of large
>basing patterns.
>
>Jerry
>
:::::::::::::::::::::::::::::::::::::
Jerry -
I believe that you raised some sound points.
-- Frank :-)
High Return on Investment using Technical Analysis
http://www.usinternet.com/users/fbg/
Minnesota Long Distance Canoe Racing
http://www.usinternet.com/users/fbg/mnlong/
------------------------------------------------------------------------
|