The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: bdog who wrote (30257)	6/15/1999 2:41:00 AM
From: Doug R	Read Replies (1) of 79214

One more technical bounce has been hinted at. This one is more than just something to play with. Key indicators are set up in such a way as to presage an acceleration to the downside. Triple witching Friday this week will have a dual role. One of those roles will be to possibly mask the onset of the probable technical acceleration to the downside. The other role will be to kick volume up a notch or two. A benign CPI # should not be perceived as a sign of safety. We're about to enter yet another crunch time. Anyone without nerves of steel or a properly long-term time horizon should go have a picnic or some other pleasant activity. That way, if we do get a cave-in to 9700, you'll be fine. If we don't get a cave-in, you'll be fine. Fine is the goal here. The peak on the S&P 6 trading days ago (6/7) was a lower high. That fact sets up a downtrend line. SMI is below bullish threshold. MACD has just crossed down...again. This cross down is below the 0 line. 13, 8, 8 stochastics sucks. 89, 3, 5 is not at all hopeful. 233, 21, 34 is still in positive territory BUT just hit day 3 of a downward acceleration. If triple witching movement gives the appearance of improvement...remain skeptical...and defensive. It looks like a sharp plunge is just around the corner (but don't quote me on that...just watch out...or short MSFT if it drops below 76 3/4 ). Doug R

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