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Richard Ney and the Wall Street Gang
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who wrote (
6/17/1998 12:42:00 PM
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John, I do not see the market falling apart today.
The Dow has upside resistance at 8885 (+/-) 5. That is the center of the Dow's moving trading channel I follow. I believe the Dow is trading in the lower half of that channel until it closes above that center.
I expect oscillations inside this moving channel until contact with the Dow's 200 SMA. Then I expect it to begin its next leg up. Maybe its last leg up.
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