The 56 Point TA; Charts With an Attitude Message Board

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

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To: jsavage who wrote (37361)	10/23/2000 12:12:55 AM
From: Doug R	Read Replies (2) of 79429

JAS, I was in MTON due to the chart progression that showed a H&S in June and July, followed by an ACT starting 7/31, followed by a move above the head of that H&S. When the ACT didn't hold, the preliminary IL/ACT algorithm was erased. There is now no IL for MTON to attempt a run toward. I was long MTON with the speculation that it might do that and when the reason for my entry disappeared, I exited with a very minor loss. That said...even though an "impossible" move for MTON is unlikely now, it has maintained a decent enough base above that June/July H&S but there is no really significant uptrending support anchor coming off the low of that former ACT. You should expect to see a wide ranging day that dips down, possibly below 12, to set the next viable uptrend line. Very soon after that dip it'll be good to stalk for entry again. As for AINN...it broke hard below its ACT during that last "vacuous" move in the market and quickly regained that uptrend. I'd say that's a good reason to watch very closely for any small move up on volume to verify a good entry. Doug R

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