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Norman,
Good point. But is it a bull? Next year's Mass Pressure Chart shows a
choppy horrid year of churning.
1999's is positive and we have a month at the most more of the purgative we
are getting now. 5,000 is really unlikely.
On the Australian market you could argue we are in a big 4th with a ireg B
on last high (not my count Bryce Gilmore's but I agree with the
proposition).
As all we have done in equities markets is move back to where we were in
April this year in the US and
a tad lower in Australia.
If we are in big 4th the churning of the Mass Pressure Chart's pattern is
valid.
I had a few requests for the Mass Pressure chart last time - when i get
more computer literate I will post it (1997 & 1998) on my
homepage for those who wish to upload it.
http://homepages.tig.com.au/~adest/index.htm
I am not sending it out as I believe they are far too many gif fiends in RT
land. I am on
the compiled version and it takes sooo long to collect in the
morning..........
Regardingly
David Hunt
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> From: jim roush <jar@xxxxxxxxxxx>
> To: REALTRADERS@xxxxxxxxxxxxxx
> Subject: Re: Bear MKT
> Date: Wednesday, October 29, 1997 10:14 AM
>
> On Mon, 27 Oct 1997 19:39:14 -0800, you wrote:
>
> >OK - somebody has to say it, might as well be me.
> >
> >I believe we are entering a BEAR market which will take the Dow to below
> >5,000.
> >
> >I base this on Trendlines, Fib. and gut instinct.
> >
> >There I've said it, now as is the recent tradition with realtraders -
> >you may shoot the messenger:)
> >
> >Maximus Profitus
> >Jay Steel
>
> Jay,
>
> How many bear markets in this century have we had where there was not
> rising interest rates? None. Relax.
>
>
>
>
> James A. Roush
> jar@xxxxxxxxxxx
>
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