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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Ocote who wrote (12900)3/2/1998 1:42:00 AM
From: Doug R  Read Replies (4) of 79516
 
Ocote,

I almost forgot to look at the Dow and how the 13 day RSI is getting along. Remember when I said I couldn't give it a completely clean bill of health until the indicator downtrend set up from the Nov. '95 top was broken? Well, it was broken on 2/12. There was a bit of a retest and the indicator climbed back over the downtrend line on 2/27. I don't think we're in for a correction any time soon. There may be a bit of short term earnings jitters coming up but it looks as though most of that is already discounted. It was 7 months and Dow up 8% from the 11/95 13 day RSI peak to the 7/96 "correction". It will probably be a similar performance coming up measured from the point of the breakout.

Doug R
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