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Strategies & Market Trends : Point and Figure Charting
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To: Mr. BSL who wrote (22907)8/4/1999 1:57:00 PM
From: Ms. X  Read Replies (4) of 34804
 
NYSE BP Chart. A History.

%
86 | |
84 | |
82 | |
80 -------------+-----------+-------------------
78 | |
76 X A | |
74 8 O X O | |
72 X O X O | X |
70 ---X 9 --O --+-X O ------+-------------------
68 X O | X O |
66 6 O | 3 5<--Reversal down in May of 98.
64 X O | X O Dow rallied hard for two months but the majority
62 O X O | X O of stocks were on PnF sell signals and growing.
60 O X ----O X +-X O ----C +-------------------
58 5 O C O X 6 X O 1 X <--Hit resistance in May and hung
56 O X O X O 2 O X O X O X O around for three months moving
54 X O X O X O X O X O 5 O lower but not reversing until
52 O 1 X O X O O X 8 <--Here today. Actual
50 ------------O --O ----X +---2 X ---reversal took only three weeks!
48 Dble bttm break->O X | O X
46 | O B | O 4 <--Reversal up in May telling us
44 | 8 X | O X sell off was over.
42 | O X | O X
40 -------------+---O ----X +---3 <--Low March of 1999
38 | O X | Also current support for NYSE BP.
36 | O X |
34 | O X |
32 | O X <--Double top confirming supply is in
30 -------------+---O X --X +--control.
28 | 9 X O X |
26 | O X O X <--Reversal back up prior to Dow rally.
24 | O X A X |
22 | O X <--Reversal back up then brief downturn
20 -------------+---O X O but notice the higher bottom. Shows support.
18 | O X |
16 | O <--Low of September 1998 after reversal in May.
14 | This is one of the lowest reading the NYSE BP
12 | has ever accomplished.
10--------------+-----------+-------------------10
1997 1998 1999
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