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Earl
I've been following this textbook setup of the 3 Peaks and a Domed House
pattern. To complete, the pattern needs to start a run now that lasts into
the first couple of weeks of January and then falls off. If this occurs,
the minimum downside taget is Point 10 (DJIA 10,000).
Kent
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: realtraders@xxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxx>
Date: Thursday, December 16, 1999 7:46 AM
Subject: RT_Re: [TradersGroup] SP500 crystal ball (+ a little market
history)
Since my post of this weekend, all 3 of my NASDAQ breadth models (a/d
issues, a/d volume, and hi/lo) have shown extremely serious deterioration
while the NASDAQ and S&P indexes are close to once again reaching new highs.
I had been looking for a correction followed by new highs but the more
serious these divergences become, the greater the risk in the market. If we
don't get a good correction very, very soon, the Christmas turning point I
referred to earlier is likely to be the beginning of a major correction
rather than the beginning of another leg in the bull market.
Earl
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