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Long term charts should be viewed with a semilog
scale. Under those conditions, the 1982 trendline is still firmly in
place.
wd
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Stan Book
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Monday, March 05, 2001 1:51
AM
Subject: [RT]S&P: just another pretty
picture
My preferred scenario has been for the SP500 to retreat to
its long term upturned (from 1982) at the end of the current 4 and 20 year
cycles in 2002.However, now that the index has violated both the
accelerated up turned linefrom 1994 and the 1998 low which marked the
beginning of this four yearcycle, a less optimistic scenario must be
entertained.The long term up turned, and horizontal support drawn from
1996, appear toconverge about 1000 around Oct 2001. If this geometry
describes price actionto the 2001 low, The final low of 2002 should reward
bears, punish bulls,and usher in that cherished American tradition: a
divided government.Happy huntingTo
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