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 (12955)	3/2/1998 4:22:00 AM
From: Chip Anderson	Read Replies (3) of 79519

Re: I don't think we're in for a correction anytime soon. I agree that, on a purely technical basis, there's not much right now that would prevent the markets from moving higher. But that's mainly because everything's in record territory at this point. The contrarian side of me keeps reminding me that "Record Territory == Oversold" and the fundamentalist side keeps reminding me that pre-announcement season starts next week in earnest. One thing's for sure: Increased volatility! Everyone: We recently updated "Chip's Charts" to show at-a-glance how the major markets and sectors are performing relative to one another. We also added a "Market Internals" page that plots TRIN and the McClellan Summation Index for both the NYSE and the NASDAQ. If you want to quickly see the major trendlines and support/resistance levels for the major US markets or the S&P economic sectors along with my analysis, check out coolhistory.com and let me know what you think. Chip

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