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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist
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To: Jerry Olson who wrote (3833)9/30/2001 7:50:09 PM
From: Smooth Drive  Read Replies (1) of 5893
 
Hello Jerry,

What a terrific service you're providing to your clients.

As you know, different size p&f boxes can act as a sort of confirmation of trends, signals etc. Thought you might like to see the dow with three different size log boxes.

swinglines.homestead.com

1. The .75% log box is the fastest acting and you can see that it's on a buy signal. The important Bearish Support Lines (BRSL) are drawn from the left of the bottom that formed in April of this year. You can see that it turned up right on the second BRSL and its breakout bearish vertical price objective of approximately 8500 was hit. Its first price objective off the bottom is 10000.

2. The 1% log box confirms the trend line and price objective. It did pass through the first BRSL but not by very much. Its bearish price objective was 8160 so we are within spitting distance of that.

3. The 2% provides a very long term look. The first BRSL is drawn from action back in May of 99 and it has held. The vertical price objective of approximately 5700 seems a bit excessive. However, the horizontal count comes in at around the old pullback of 6384 set in April of 97.

So, the two shorter term seem to have met their price objectives and it could be argued that they could well do some basing here and move upward. The longer term (2%) says not so fast here. But, if the 2% can do a little base building and then a buy signal, the very bearish price objectives would be cancelled.

A little time will tell<g>

Take care,

Eric
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