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Strategies & Market Trends : Point and Figure Charting
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To: HoodBuilder who wrote (7601)9/22/1998 11:52:00 PM
From: Ms. X   of 34817
 
Market Quick look for tonight:

I list the DJIA and NASD charts because I know there is interest. I
want to make sure everyone knows however, that the DJIA is NOT related
to the NYSE BP. One can very well go one way while the other doesn't.
NYSE BP is our leading indicator. It appears that the DJIA and NYSE BP
seem to be in the same upward trend currently.

The DJIA reversed back up on its chart today creating a much higher
bottom than previously.

8150 O <--Next double top buy (?).
8100 O X
8050 O X O
8000-O ----X --X O --------------
7950 O X X O X O X <--Today's reversal up
7900 O X O X O X O X
7850 O X O X O X O X
7800 O X O X O X O X
7750 O X O X O X O <--Higher bottom (demand)
7700 O X O X O X <--First sell signal.(?)
7650 O X O X O X
7600 O X O X O X
7550 O X O X O
7500 O X O ---------------------

NASD reversed up and gave a buy signal today.

1720
1710
1700 O ------------X <--Today's reversal and buy signal.
1690 O X X
1680 O X X O X
1670 O X O X O X
1660 O X O X O X
1650 O ----X O X O X ------------
1640 O X O X O X
1630 O X O X O X
1620 O X X O X O <--Higher bottom
1610 O X O X O X <--First sell signal (?)
1600 O X O X O X ----------------
1590 O X O X O X
1580 O X O X O X
1570 O X O X O
1560 O X O X
1550-O X O ----------------------
1540 O X
1530 O X
1520 O X Bot
1510 O X
1500 O X ------------------------
1490 O X
1480 9
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