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Strategies & Market Trends : Point and Figure Charting
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To: XOsDaWAY2GO who wrote (3750)6/16/1998 3:35:00 PM
From: Ms. X   of 34816
 
For Luc: CCI, NKE and INTC

CCI: Momentums and RS negative. Extremely close to breaking
a spread double bottom. This would also drop it past May lows
and close to April lows. Hedge at that point. 130 Breaks the
bullish support line.

184
182 X
180-----------X O ------------------- Top
178 X O
176 X O
174 X O
172 X O
170-----------X O -----------------------
168 X O
166 X O
164 X O
162 X O
160-----------X O -----------------------
158 X O X X
156 X O X O 6 O Med
154 X O 5 X O X O
152 X O X O X O X O
150-----------X O X O X O X O -----------
148 X O O X O O
146 X 4 O O <--Yesterdays action
144 X O X ? <--spread double bottom break
142 X O X
140-------X O ---------------------------
138 X
136 X
134 * 3
132 * X * Bot
130 O --* X --------------* ------------

NKE:
NKE is still below its bearish resistance line (not shown
here). On a buy signal with support at 43. Break to 42 would
be a triple bottom and very negative sign. Next support at 38/39.
Daily/weekly negative but the monthly did turn positive after being
negative for two years. Aggressive only to the upside.

48 X
47 X X X O
46 X O 3 O 4 O Med
45 --X O X O X 6 ----------
44 X O X O X O
43 2 O O ?
42 O X ? <--Triple bottom break
41 O X
40 O X ---------------- Bot
39 O
38

INTC: RS and momentums negative. Below January Lows. Not good.
Would need to see some higher bottoms and buy signals for even
the aggressive traders. Sector is at the 20% level and would wait
for a Bull Alert signal before considering INTC.

84 X O X O X O X O *
83 2 O O X O X O * <--Bearish resistance line
82 X O X O 5 O
81 X O X O X O
80-------X ----O ------------X O X O --------------
79 X O X X X O O
78 X O X X O X O X O Med
77 X O X O X O X O X O
76 X O X O X 4 X O X O
75 --X --X ----O * O X O X O X ----O --------------
74 O X O X * O O X O O
73 O X O X * O X O
72 O * O X * O O
71 * O * O
70 ----* --------------------------O X ------------
69 O X O
68 6 X O
67 O X O
66 O O <--At double bottom
------------------------------------? <--Double bottom break
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