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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Magnatizer who wrote (31920)9/12/1999 9:01:00 PM
From: Magnatizer  Read Replies (3) of 79460
 
market magnets 9.13.99

geocities.com

notes

Dow: Weekly buy. One of the indicators I rely on broke a downtrend last week. Implies the move up is to come shortly. On the negative side the new mag dtrend held as resistance all of last week, never really being challenged. Key to me will be the 4.3.2 stochastic IHS taking shape.

Nasdaq: Weekly buy. Very nice looking breakout and retest last week. Watching 4.3.2 on this one also. Also doing some work lately with andrews pitchforks... 2885 is a key mid tine and 3150 key top tine on a weekly fork.

SP500: Weekly buy. Lack of a test of the key overhead dtrend Friday leaves me a bit skeptical of an upmove this week. 4.3.2 is also key to me this week.

Nas 100: Weekly buy. 2816 cup and handle technical target. 4.3.2 ...well you know..... Pitchfork numbers on weekly 2555 mid tine, 2800 top tine.

Russel2k: Weekly hold (upgrade). Great move friday. I expect it to test 452 soon.

Overall I see probable disassociation of the indexes. SP likely flat to down... Nasdaq likely flat to up. All in all should make for quite and interesting week.

ht
david
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