Krystal Ball

Posting dated 3rd June 2001. 

Subject to the terms of Disclaimer on the Index page.

                                                             US STOCK MARKET update

 Dow Jones Indl .Avg.

The Dow seems to have completed an internal wave pattern within a 3^rd wave of larger degree. From here the index may rise short term till mid month and then undergo a decline followed by rise. Between now and mid months should the Dow rise substantially then it may be advisable to book profits before re-entering at month end.

Any decline below the 10000 points marked by the brown wave 1 peak will usher in a bearish phase.

Nasdaq Composite

 Chart 1-daily-jan to 1^st June

Chart 2-daily-april-1^st june

The Composite since end April has been  moving in a wedge formation.Additinally it now has the support of the channel line marked in Chart1.

Most probably from here the Nadaq should move up immediately out of the wedge bya few hundred points till mid-month before a correction sets in.

IBM-daily 1^st june close $112.

IBM seems to have consolidated within an expanding triangle in low volumes. A break out to the upside is probable.  Should the up-move commence it has potential till about $124. A STOP LOSS at @111/$110 would be advisable.

End