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as far as the s&p & dj-30 is concerned:
my analysis is that we are in- wave 5(down) of A - (for a full ABC
correction).
this wave 5: so far has had 1 down move, now doing 2 up move, and
preparing for 3 down (i dont know if we will finish wave 5 down by doing
only 3 or 5 moves)- we will see how it unfolds.
_____________________
another observation:
when stocks break trend lines (as in this case s&p & dj-30), the most
always rally back to test the trend line break underneath the line,
without penetrating the line.
lines come in for monday 10/5/98:
dj-30: 7943.54
s&p500: 1034.87
i am currently short since 9/16/98 close, using RYURX (rydex ursa) which
works the opposite to an s&p500 index fund.
mike arnoldi
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