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Strategies & Market Trends : Point and Figure Charting

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To: Mr. BSL who wrote (3302)6/1/1998 8:55:00 PM
From: Ms. X  Read Replies (1) of 34811
 
LU: Time to cover.
LU is in a precarious position here. It broke a spread triple bottom
today and has been making consistant lower tops. Support from here
until 66. A move to 65 would break all near term support.
A lot of room from there to 53, its next area of support.

80 ----------------------------+--------------------------------------
79 | X
78 | X O
77 | X O
76 | X O X
75 ----------------------------+-------X ----------X O X O X ---------
74 | X O X O X O X O
73 | X O X O X 5 X O X
72 | X O X O X O X O X O
71 | X O X X O X O O X O
70 ----------------------------+-------X O X --X O X O ------O --O ---
69 | X O X O X O X 6
68 | X O X O X O O
67 | X O X O
66 | X O <--Last support level
65 ----------------------------+-------4 ------in this area. A break
64 | X at 65 would be ominous.
63 | X
62 | X
61 | X
60 ----------------------------+-------X -----------------------------
59 | X
58 | X
57 | X
56 | X
55 ----------------------------+---X --X --------------------------Bot
54 | X O X
53 | X O X
52 | X 3 <--Next support level.
51 | X
50 ----------------------------+--- ---------------------------------
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