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 (15459)	4/25/1998 3:03:00 AM
From: Doug R	Read Replies (4) of 79270

Yup, There goes the S&P. It signalled a sell on 4/13. The 13 dRSI verified it today. The uptrend acceleration created by the Oct. '97 correction puts support at 999. on Wed. 4/29. On Wed. 5/6 the support will be up to 1009. Ivan will no doubt find a MEEP on 5/6 at 1009 for the S&P. So, the plan going forward for me is to buy everything in sight when the S&P gets below 1020....whenever that may be. If it takes longer than 5/6, I will raise the bar to 1025 and bump it up 10 points every week after that. I don't want to try to be too fancy and include any targets I might get for the Dow in my plan but I'll check for a target anyway. I kind of like using the S&P for this one since the 1,000 area would be good psychological support as well. The only probem is, this might be one that is too easily spotted by everyone and it could get "discounted". This would cause a somewhat higher bottom so the 3 day RSI on it should be helpful to pick that up if it occurs. I'll get to the requests from today also. Doug R

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