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At 12:05 AM -0400 5/17/99, John R. wrote:
>This has been staring me in the face for a few weeks.
>
>I'm not making any predictions, just surprised nobody has submitted this
>channel formation on the Dow. I suppose it speaks for itself. The
>scaling is obviously logarithmic. Please draw your own conclusions, I
>just hope this post is of some benefit instead of a generator of flames
>:-]
It is also one of fovorite charts. See attached.
Note that the price has always broken back to the 12% line after it broke
through the steeper trend line. But it recovered last October and still
tracks the 24% per year line.
The 12% line started in about 1982. Prior to that time the slope was more
like 7% per year.
Maybe it IS different this time....
Bob Fulks
Attachment Converted: "c:\eudora\attach\DJIA11.gif"
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