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: Ocote who wrote (15910)	5/1/1998 4:14:00 AM
From: Doug R	Read Replies (8) of 79383

Ocote, HARC, better. It has 2 steps. Volume isn't terribly low. No transition yet so it would be a guess to mess with it at this point but it should go into a file for observation. ISIG, that last step "lost it" but it's pretty close too. Pretransition as well. File it for observation. LMAR is closer although it looks a bit sloppy. That can be somewhat overlooked. It's about to step up again. It's also pretransition so any "tampering" with it would likely do some technical damage to it. It's a keeper though. WOSI is a bit too sloppy to qualify but it has an interesting apex on the way in about 4 weeks. The timing on actually jumping on one of these is dependent on first going into transition to set up a resistance line to break. The buy signal is the breakout over that line. It's the rarest formation I have found so it's going to be tough to find one at the right time. The absolute classic cases are those that have never had any big volume periods previous to the steps. The truly best are those that have not even experienced any kind of downtrend prior to transition. I recall only 4 or 5 that I have seen that fit every criteria. ACRT from 1/96 to 6/96 is perfect. The transition period lasted 6 months with the breakout in Jan.97. Volume during the stairs rarely exceeded 50K. And if you draw the post transition resistance line that it had to break over, you'll see that it's still a very relevant support line. There's a couple other examples in the seminar text. Doug R

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