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Strategies & Market Trends : Point and Figure Charting

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To: Jerry Olson who wrote (23484)	9/2/1999 1:56:00 PM
From: Ms. X	Read Replies (3) of 34808

The NYSE BP (the big boy) is still in O's and pretty much staying put. The OPTI moved down 2% on the week but no where near a reversal yet. The 10 week moving average did reverse down on the week. The High Low index moved up on the week which was not in tandem with the 10 week (which we like to see). So, one short term indicator has left the offense and moved to defense but the rest are in X's. The Big 'un the NYSE BP is still in O's. Long term negative short term positive. Things will be real choppy. Stops in, buy only those on pullbacks in strong sectors and RS in X's - oh, above trend too. If one more short term goes negative we will really have to be careful. The DJIA is still holding ground. The major support is still down at 10450/10500. We are still correcting the 800 points that I had mentioned a few months ago. In this market, a 400 point drop in the Dow is almost nothing. The tech stocks are the ones holding up the remaining short term indicators. They have already gone through their own bear market over the late spring and seem to be basing now. Of course they will still respond to market sentiment but they are holding up well. Choppy but well.

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