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Wouldn't be in a hurry to declare direction yet ... we are still holding
inside a bullish triangle on the daily chart with horizontal top from 10/20
high and upward sloping bottom across lows from 10/16. We've had several
triangles on the 30 minute chart which have enjoyed false breakouts. Am
showing cycle lows due on the 30 min and daily charts clustered between
10/27 10a through 10/30 9a - usually have a tighter clustering for dynamic
lows. General chart appearance seems to be a lack of buyers rather than lots
of sellers and a/d issues and volume still holding up. Suspect we may see a
rather choppy move down to 1068 or 1055 which could be hard to trade. A low
in the 1000 area would setup a much better base but I doubt we'll see it
absence a disaster somewhere.
Earl
-----Original Message-----
From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Tuesday, October 27, 1998 9:28 AM
Subject: Gen: Dow/S&P Opps.
>Unless something changes in a hurry it looks like my breakout down forecast
>was in error. Although we had a few weak down days I can't call it a
>breakout :-(
>
>Brent
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