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Strategies & Market Trends : Point and Figure Charting
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To: Al Serrao who wrote (2467)4/22/1998 10:32:00 AM
From: Ms. X  Read Replies (1) of 34811
 
Hi Al,
Glad to be back too!
HON is doing well isn't it.
With it so high I wouldn't be surprised to see a pullback but
with the RS just flipping positive, I wouldn't worry about it.
RS flipping positive is a good thing.
I would hold right now with it being so extended.

HON chart:
98
97
96
95 -------------------X --
94 X
93 X
92 X
91 X Top
90---------------------X --
89 X
88 X
87 X
86 X X
85-----------------X O X --
84 X 4 O X
83 X O X O X
82 X O X O
81 X O Med
80-----------3 ----------<--Stop point. (second sell signal)
79 X
78 X X
77 X O X
76 X O X
75-------X O ------------
74 X
73 X *
72 X *
71 2 * Bot
70 --X --X ----* --------
69 O X O X *
68 O X O X *
67 O X O *
66 O *
65-----------------------

RS Chart:

2.00 ----+---+-+-+-+-
11.5 | 2 ? <--Buy signal
11.0 ----+ X O 9 ?
10.5 6 1 O X O ?
10.0 ----3 O X 7 4 O 4 <--current reversal up.
9.5 2 O X 8 6 O X
9.0 ----7 9 B X 7 X
8.5 5 O X 9
8.0 ----3 O <--Last signal (sell) 1995.
7.5 X
7.0 ----X --+-+-+-+-
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