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

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To: Magnatizer who wrote (32195)10/3/1999 9:02:00 PM
From: Magnatizer  Read Replies (1) of 79449
 
Market Magnets 10.4.99

geocities.com

notes

Dow: Weekly sell rating. Put in a daily inside bar Friday indicating a base/rise period to begin. However... weekly put in lower high lower low, not bullish. Weekly CCI (13) is below -150 trigger line I will remain in a daytrading mindset until the CCI crosses up through -150 on Dow.

Nasdaq: Weekly sell rating. Daily bar put in hammer Friday indicating a base/rise period to begin. Weekly put in inside bar also indicating a change in trend from down to base/up. Daytrading bias on this index also until this weeks bar forms either verifying the inside bar reversal or negating it.

SP500: Weekly sell rating. Daily bar hammer friday.... Weekly pattern put in a hammer also and a bounce off the IHS neck using lows (some use close only and line chart). With the weekly cci (13) closing in on -150 I will maintain daytrading mindset until this weeks bar forms to verify hammer bottom or send the cci below -150.

Nas100: weekly hold rating. Friday put in hammer.... Weekly inside bar pattern.... Maintain daytrading....

Rut 2k: Weekly sell rating. Weekly put in inside bar.... Maintaining daytrading....

NYSE new lows broke a dtrend. Though no significant improvement in the number of new lows the dtrend break is a positive sign for the bulls. Will be watching if to set a few days below 150.

ht
david
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