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Strategies & Market Trends : Point and Figure Charting

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To: Tommy Dorsey who wrote (22867)	8/4/1999 11:14:00 AM
From: James Strauss	Read Replies (1) of 34808

Dow Theory... ******************* Tom: In 1996 both the Dow and Transports broke below their 200 day MA... You could classify that as the bottom of that decline... Classic Dow Theory uses a 5% trading band above and below the Dow and Transports mean prices... Both indexes need to cross those thresholds for a Dow Theory confirmation... In 1996 the Dow Theory sell signal would have been triggered when both the Industrials and Transports fell below a previous base of support developed during the months of May and June... 204.248.190.51 e-analytics.com Dow 10,400 and Transports 3300 are the critical thresholds this year... If both of those areas are broken we have a Dow Theory sell signal... So far, the Industrials are trying to bounce... So, we don't have a Dow theory sell signal yet... Jim

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