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Strategies & Market Trends : Point and Figure Charting

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To: Teddy who wrote (3002)5/13/1998 9:39:00 AM
From: Ms. X  Read Replies (2) of 34808
 
Good morning everyone..BIG NEWS about NYSE BP!!

If you saw Tom yesterday you already have a guess, if not here is the news..

The NYSE Bullish Percent has reversed down!! into Bear Alert!
(also known as the bullish thingie to some)

We are on defense people. This is the big coach and it likes to be paid attention too.
Everyone who has been reading this thread should not be surprised by
this and should know the risk level this presents.

Tonight Tom will be discussing exactly what this means to the market
in his "From the Analyst" Commentary. For those of you who subscribe
to DWA you know already where to find this. For those who are not yet
subscribers, please go today to dorseywright.com sign up
for a free two week trial and take a look at the commentary.

Copyright Dorsey Wright & Associates.

80 +-------| | ----+---+---+---+-------+---+---+-------------+-----------------
78 | | | | | | | | | | |
76 | | | | | | | | | | 8 A |
74 | 9 | | | | | | | | 7 O X O |
72 3 8 O | | | | | | | X O X O | X
70 X O ----7 O ----3 --+---+---+-------+---+---+---X 9 --O --| X O ------------
68 2 O 6 O X O | 2 | | | | X O | 3 O
66 X O 5 O 2 O 2 1 O 2 | 5 | 6 O | X 5 <--Todays reversal.
64 X O 7 3 O X O 1 O X O 1 O | X O 1 X O | X
62 X O X O 2 O X 5 X O C O X O 8 X O C O X O | X
60 X O X O X O ----X O X O B 4 X 3 ----7 O 2 7 B O X ----O C | X --------------
58 X 5 O 1 O X 6 X O X C | O X O X O A O 5 O X O 2
56 X O X O X 8 X O X | O 6 A X O X 4 X O X O X
54 X 8 X O X A X 4 X | O X B | O 9 O X O X O X
52 1 O X A 6 X O X O X | O 5 | O 8 O O O X
50 X ----B | B X O X B X O X --| O 9 --X --| O X ------------1 ----------------
48 X | O 5 O X O X 6 | | O X O 4 | O X |
46 X | O X O X C | | | O X O X | O | |
44 X | O 3 O 1 | | | 4 8 B X | | |
42 X | O X O X | | | O X O 3 | | |
40 X ------| 1 X O C --+---+---| O X O 2 --+---+-------------+-----------------
38 X | 2 O X | | | 5 O X | | |
36 X | | O X | | | C X | | |
34 X | | O X | | | O | | | |
32 X | | O B | | | | | | |
30 X ------| | --O X --+---+---+-------+---+---+-------------+-----------------
28 X | | O X | | | | | | |
26 X | | O X | | | | | | |
24 X | | O X | | | | | | |
22 X | | 8 X | | | | | | |
20 | ------| | --O X --+---+---+-------+---+---+-------------+-----------------
18 | | | 9 | | | | | | | |
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10 +-------| | ----+---+---+---+-------+---+---+-------------+-----------------
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6 | | | | | | | | | | | 4 | | | | | | | | | | |
2 | | | | | | | | | | |
0 +-------+-+-----+---+---+---+-------+---+---+-------------+--------
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