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 (12657)	2/24/1998 10:03:00 AM
From: Ocote	Read Replies (2) of 79313

Doug-- Do you think it's time to review the Dow again? On the BB(20, 2.0), weve been riding up the upper band since the breakout and now beginning to pull back; perhaps to the middle line before heading back up. On the 13 day RSI we've established a new peak, which when looking back forms a new line AB, but this one doesn't have the downtrending strength of multiple points found in the previous AB. The uptrending line is still intact. This uptrend will inevitably be broken so that a new more modest uptrend can be formed by a new relatively high bottom. Overall, looks like a modest pullback IMHO during the next week, then return to bull market. Perhaps a good time to keep some cash on hand. That's the superficial interpretation. What's your thought. Ocote

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