Dorsey Wright & Associates. Point and Figure Message Board

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Non-Tech : Dorsey Wright & Associates. Point and Figure

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To: papi riqui who wrote (8496)	6/26/2000 10:08:00 PM
From: Mr. BSL	Read Replies (1) of 9427

Good idea! Here is my question - is the DJBB still on a buy signal? Historically, the Fed doesn't raise rates when DJBB is on a buy signal and doesn't lower rates when DJBB is on a sell signal. The DJBB is extremely reliable. In fact, it was on a buy signal for several rate cuts up through the spring of 1997. The DJBB then gave a sell signal and the Fed raised 1/4 point. Then it gave a buy signal and the Fed have 3 or 4 cuts. Then it gave a sell signal 16 months ago and the Fed raised rates several times. Up to this point, all buy signals were a row of X's exceeding a previous row and all sell signals were a row of O's exceeding a previous row of O's. The latest buy signal was a low pole deal which means a big row of X's but no double top buy. I know that the low pole buy signals are reliable with stocks but I've always been sceptical when it came to low pole buys on indicies or broad averages. Today the DJBB reversed to O's. Does this negate the low pole buy signal?? Inquiring minds want to know, especially with the Fed meeting tomorrow! Dick

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