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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Magnatizer who wrote (24253)12/13/1998 6:09:00 PM
From: Doug R  Read Replies (3) of 79421
 
David,

Ok, a review here; as a magnet intersection approaches, price moves significantly in the preceding week to 10 days. Activity of the price in relation to a magnet line telegraphs the "polarity" of the intersection. If price can't hold a magnet line, a down move ensues. If price does hold, an up move ensues.

Since the S&P is sitting just over (4 points) a magnet line and right on a magnet trend line with an intersection coming up says a lot. If it can't hold this area this week, that intersection next week is going to go to negative polarity. At what value does that intersection occur? The size of the move may be roughly equal to its distance from the 1162 magnet line (just a guess at this point).

Doug R
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