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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (3163)	5/26/1998 6:53:00 PM
From: superdow	Read Replies (1) of 34811

Hi Jan, I was just reviewing a chart of the nyse bull percent which was used in a technical analysis class on pnf that I took earlier this year. the chart handed out in the class has a fairly significant discrepany with the chart shown on Tom's cite. Specifically the chart from class shows a reversal from 76 (starting in Oct. 97) down to 46. Tom's chart shows this reversal as only dipping to 52. The difference is signficant because the next reversal in Jan. 98 took the column of O's (on both the class chart and Tom's chart) to 50. Thus, Tom's chart shows a Bear Confirmed market (second column of O's dipping below the first) while the class chart does not. I don't know where the class chart came from, perhaps Chartcraft... Is the Dorsey-Wright Chart Correct? P.S. Tough day for the markets...

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