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Strategies & Market Trends : Point and Figure Charting

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To: wizzards wine who wrote (3213)	5/27/1998 11:43:00 PM
From: Ms. X	Read Replies (2) of 34811

What the indicators are up too (or down too as the case may be). Today brings us all O's in the indicators. NYSE B.P O's 59.8 % -3.2% Support at 50% Option B.P. O's 53.1 % -5.8% Support at 40/42% 10 Wk M.A. O's 26.8 % -7.4% Support at 24. 5 sell signals 30 Wk M.A. O's 50.6 % -5.0% Support 44/50% High-Low Index O's 54.2 % -9.5% The OTC reversed down this week and this is the indicator that houses most of the Nasdaq issues. We now look for the 10 week and the High Low to reverse up from under the 30% level to signal a buy, at least short term. Remember the order in how these indicators reversed to the downside, we look for the same order to the upside. Ideally, we would like to see the percentages move under 30% but under 50% is good field position. Don't anticipate their moves. As you have witnessed, these indicators give fair warning to the market risk ahead. Watch them, we still are moving down. Be patient. I will of course notify all as soon as I know. Semiconductor sector is now under 30%. A reversal up from here would be bull alert and the best of field positions. Now is a good time to gather an inventory of good semi stocks to consider once this sector reverses up. Look for those that have held trend lines, monthly momentums and RS strengths. With the sector this low you can afford to be less picky. Most sectors, save a few, moved to the downside. The bellcurve has moved to the more normal level but it is still skewed to the right. Best thing to do is watch for the sectors to come down under 40% level and then reverse up. Sectors now under 50% (in O's) Semiconductor 28% Electronics 38% Latin America 38% Healthcare 42% Computers 44% Oil 44% Precious Metals 44% Look for opportunities here once things reverse up. Get your inventories together. Be ready :-) I do want to stress that things are still negative. You still need to be cautious and not buying with unbridled enthusiasm. The time will come... Jan I am

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