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The following was posted on Aug 14th and the current chart is attached.
Ira.
There have been numerous prognostications as to where the Dow is
going. The attached chart indicates a trading channnel. The Dow will
not make a mojor move to the down side until that trend line is broken.
If there is a 160 point drop in the dow there is an 80% probability of
the dow dropping another 140 points. That would still leave it above
the trend line. The first target to the upside has been met at 10950 and
there is a 70% probability that it will reach 11,130. Resistance should
occur between 11100 and 11150. and a retracement of this up move could
take place. Now that I am hanging out all the way, let us see what
happens. You will notice that I am looking in both directions for a
trade. Unidirectional thought can cost a lot of money. Have a good
week end. Ira
Attachment Converted: "c:\eudora\attach\indu.d Channel.gif"
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