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Here is Tom DeMark's last "accidental" post to this list...A wonderful call
for a sell signal on November 26, 1998...Gotta love these gurus.
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11-26-98 Thursday morning 12:40am IMPORTANT
Stock market: I sent you a chart of the Dow Future/Dow Cash which
indicates the market is currently at high risk. Over the past 2 days, I
have been exhaustively reviewing the early "13" patterns as well as the
standard "13" patterns for a period of 20+ years. Although it is still
preliminary, I believe the conclusion is correct—namely, if the S and P
future fails to record a high above 1208.50 before it close less than
the close 4 days earlier, it is likely that the market is at an
important top. In other words, if Friday’s close is below last Friday’s
close(1167.50) of next Monday’s close is below this past Monday’s
close(1194.10), an important top will have been completed PROVIDED that
in the meantime the market has not traded above 1208.50. There exists a
stronger likelihood the decline will begin on Monday and this was
mentioned in my comments yesterday. Furthermore is Monday’s high is
above Friday’s high, then a sell signal will be given at last Monday’s
closing price level(1194.10) if the market opens above that price level.
I will continue to review this information and should have more
conclusive information later today(Thursday) or Friday. The same thing
applies to the NASDAQ Index and a number of the internet stocks.
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