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Strategies & Market Trends : Point and Figure Charting
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To: mph who wrote (2633)4/28/1998 10:19:00 AM
From: Ms. X  Read Replies (1) of 34809
 
Hi mph,

I looked at the SecurityTrader chart and God help me if I could
understand it and I know P&F!!!!
Here is the chart off of Dorsey's site. Ahhh, much better!

Oil Services has been performing very well. At this time it is
sitting at resistance. A move to 62 would be the 4th consecutive
buy signal while a move to 52 would be the first sell signal in
the uptrend.
If interest rates become an issue, oil and oil services should do
well. Remember in a correction everyone is effected. The key is to
know at what point your issues and sectors are in trouble. 52 for
this sector would be the first signal of some short term trouble.
Right now, it looks good.

Jan.

Chart: Oil Services Copyright Dorsey Wright and Associates

80 ----------A --<--October '97 high
78 O X X O |
76 O X O X O |
74 O 7 O 9 O |
72 O 6 O X O |
70 O ----X O X O --------| --------------------------
68 O X O X O |
66 O X O X O |
64 O X 8 X O |
62 O X O O |
60 O ----5 ----O X ------| ----------X --X<--Current reading ----------
58 O X X O X O | X O X at resistance.
56 2 X O X O X O | X O X
54 O X O X O B O | X 4 <--Third buy signal off the bottom
52 O X O X O X O | X X
50 O X 4 X ----O X O ----| ------X O X --------------
48 O X O O X O | 3 O X
46 3 O X O | X O X
44 O X O X | X O X
42 O X O X O | X O <--Second buy signal off the bottom
40 ------------O X O X O | --2 --X ------------------
38 O O X O | X O X
36 O X O | X O X
34 O X O | X O
32 O X O | X <--First buy signal off the bottom
30 ----------------O X O 1 --X ----------------------
28 C O X O X
26 O X O X
24 O | O X
22 | O X
20 ----------------------| O X ----------------------
18 | O X
16 | O X
14 | O <--January Low
12 |
10 ----------------------| --------------------------
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