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: Doug R who wrote (10795)	1/17/1998 10:16:00 PM
From: Ocote	Read Replies (1) of 79269

Doug, I'm trying to follow and learn, so will you take a few questions at the end of the class? A line from bottom X to bottom Z intersects line AB and is the next trouble spot on Feb 1 if the RSI can stay above the intersection of XZ and BC. So am I correct that the other possibilites are a break above AB(current RS resistance) which would indicate the end of this correction? ...an conversely breaking below support, a BIG drop? Tried the Bollinger Bands at 377,2.0, but my computer calculated on and on. Tried it again with BB 35 on the weekly charts plotted against the RSI 13(weekly). I notice that the previous moves correlate very nicely with tightening BBs with this setting, taking a cue from the RSI. With the above setting the RSI has a steep downward angle while BBs are very tight. Am I on the right track? Thanks Ocote

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