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: Magnatizer who wrote (30403)	6/23/1999 9:54:00 PM
From: Magnatizer	Read Replies (2) of 79230

Market magnets 6.24.99 notes Dow: Weekly hold close here friday. 3rd test of key 10616 utrend in the past 3 weeks. Thats a whole lotta weight to support in such a short time frame. Very defensive short term. Nasdaq: Weekly buy close here Friday. Techs looking better then the broader market (SP500 and Dow). If it gets ugly this week pay close attention to the 2527 utrend. I feel if it is broken and not recovered quickly (3 days or less) the gap fill will be next stop. SP500: Bounced off newest mag tline today. This line must hold, if broken give it 4 days to recover. Weekly hold close here Friday. Nas100: Weekly buy. Nice bounce off 2177 quarter zone today. Sniffed the newest mag utrend also and reversed up prior to touching. A good sign of strength. Lots of mixed signals here, STILL. Definite rotation through the markets as the strong indexes of last month are now loosing their leadership as the nasdaq benefits from the shift. Tough market for the buy and hold crowd and we will surely see who the best analyst and fund managers are if this continues through 99. Mond Tues Wed Thurs Fri DOW 30 Close 10856 10816 10722 10667 day prior Monday Friday (if sloped) 9871 9889 -985 -941 -842 -783 9889 Top of Set of Three 9905 -951 -911 -817 -762 9905 Neutral zone 10158 -698 -658 -564 -509 10158 Quarter zone 10411 -445 -405 -311 -256 10411 Weak 10616 10651 -240 -191 -89 -25 10651 Not Mag but very key 10679 -177 -137 -43 12 10679 Neutral zone 10947 91 131 225 280 10947 Regular 11175 11253 319 379 492 567 11253 Newest mag tline 11239 383 423 517 572 11239 Weak Nasdaq Close 2563 2630 2580 2598 day prior Monday Friday 2055 -508 -575 -525 -543 2055 Strong 2198 -365 -432 -382 -400 2198 Weak 2275 2264 -288 -358 -311 -331 2264 2316 -247 -314 -264 -282 2316 Neutral zone 2320 2329 -243 -308 -256 -271 2329 2359 2358 -204 -271 -222 -240 2358 12.23.94 to 10.20.95 2415 -148 -215 -165 -183 2415 GAP FILL 2434 -129 -196 -146 -164 2434 Weak 2485 2489 -78 -144 -93 -110 2489 2497 -66 -133 -83 -101 2497 Regular 2518 2512 -45 -114 -65 -85 2512 5.21.99 to 6.8.99 2527 2534 -36 -101 -50 -66 2534 3.26.99 to 6.18.99 2655 92 25 75 57 2655 Quarter zone 2665 2679 102 39 92 78 2679 1.14.99 to 3.16.99 2676 2684 113 48 100 84 2684 8.2.96 to 11.8.96 2812 249 182 232 214 2812 Regular 2929 2965 366 308 367 358 2965 2970 407 340 390 372 2970 Quarter zone SP500 Close 1343 1349 1336 1333 day prior Monday Friday 1162 -181 -187 -174 -171 1162 Neutral zone 1208 -135 -141 -128 -125 1208 Quarter zone 1213 1214 -130 -136 -123 -119 1214 1256 1241 -87 -97 -88 -88 1241 5.10.99 to 6.1.99 1266 1267 -77 -83 -70 -66 1267 85 Line 1285 1286 -58 -64 -51 -47 1286 8.1.84 to 10.19.84 1300 -43 -49 -36 -33 1300 Regular 1324 1327 -19 -24 -11 -7 1327 3.9.99 to 6.17.99 1339 1343 -4 -9 5 9 1343 9.18.97 to 6.24.98 1350 1353 7 2 16 19 1353 1354 1355 11 5 19 22 1355 86 Line 1405 1412 62 58 73 77 1412 1442 1443 99 93 107 110 1443 1447 104 98 111 114 1447 Quarter zone 1468 1476 125 121 136 141 1476 1593 250 244 257 260 1593 Neutral zone NDX Close 2206 2269 2210 2239 day prior Monday Friday 1888 -318 -381 -322 -351 1888 Quarter zone 1975 -231 -294 -235 -264 1975 Strong 2030 -176 -239 -180 -209 2030 Neutral zone 2084 -122 -185 -126 -155 2084 Regular 2094 2096 -112 -175 -115 -144 2096 3.26.99 to 6.9.99 2157 2191 -49 -104 -36 -57 2191 6.9.99 to 6.17.99 2177 -29 -92 -33 -62 2177 Quarter zone 2269 63 0 59 30 2269 Neutral zone 2397 2420 191 134 199 175 2420 2362 156 93 152 123 2362 Quarter zone 2454 248 185 244 215 2454 Regular ht david

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