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Al Taglavore wrote:
> In my attempts to develop a methodology for trading the S&P and as a result
> of looking at different time frames, I offer these observations:
>
> If anyone will look at the S&P on a monthly MS chart from Jan of 1994, one
> will see a fabulous chart that almost looks like a stairstep.
>
> Since the end of Jan 98 to July 98 there has only been one month that the
> S&P traded below the previous months low, and that was only by 2.31 points
>
> This is the first month that we have traded significantly below the
> previous month.
>
> If a trendline is drawn from the Oct 97 low, we have YET to touch that
> line. It is a sign of strength for a trendline to be touched and therefore
> tested, and we have yet to touch the line.
>
> To all that study channels, I ask, are we not now approaching the bottom of
> a short term {based on monthly data} channel?
>
> Unless 896.75 on a closing basis is violated, are we not in a bull market
> still?
>
> If we do not listen to T V and read newspapers, but trade off of charts,
> could we find a more profitable chart pattern?
>
> To all chartist, please give an evaluation.
>
> Al Taglavore
Thought you might find this graph to your line of thinking.
Jeff Redcay
Attachment Converted: "c:\eudora\attach\DJIA QUARTERLY.gif"
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