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Strategies & Market Trends : Point and Figure Charting

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To: Challo Jeregy who wrote (23029)	8/12/1999 10:33:00 AM
From: James Strauss	Read Replies (1) of 34817

Challo: At the bottom of this chart is the 10 MA of NH/NL... decisionpoint.com Note the direction of the average is down below the 0 line and below the recent lows... In the past these lower levels coincided with market downturns... Until we see this heading north it means more stocks are hitting New Lows than are hitting New Highs... That's not a healthy situation for a sustained rally... The silver lining is that as more and more stocks hit their 52 week lows we get closer to a bottom because the selling will have dried up... Jim

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