Stock Market Highlight #24
"Astro Point" listed in "The 1998 $upertrader's
Almanac - 2nd Half Edition" marks stock market low.
(COMMENT #s 726, 731)
UPDATED 19981005
COMMENT 1998-726
1. The chart shows hourly DJIA (Dow Jones Industrial Average) prices through Friday's
close.
2. In light of the ALIGNMENT of the Elliott Wave PATTERN with the Astro Points as
presented in recent COMMENTS, it is possible that the interpretation shown in the chart
will ultimately prove to be the correct interpretation.
3. The change would, at first, appear to be but minor.
4. It marks the 980901 low as the end of "Wave III" instead of the favored
scenario.
5. In the favored scenario, the 980901 low is believed to be but "Wave 3 of
III".
6. The favored scenario implies much more down, both in terms of price AND time.
7. The interpretation presented is not as bearish.
8. The two horizontal lines shown in the middle of the chart represent the .382
retracement of the entire July to September downmove (lower line) and the .618 retracement
of the assumed "3 of III Wave".
9. The down trendline and up channel trendlines we've been cited as important to this
market are also both presented and, as can be quite clearly seen, speak for themselves.
UPDATED 19981005
COMMENT 1998-731
See page 398 of "The 1998 $upertrader's Almanac - 2nd Half Edition".
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