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: Doug R who wrote (17928)	6/1/1998 10:20:00 PM
From: Ocote	Read Replies (2) of 79237

Doug-- I think you're right about Tuesday being a prime down day. The 3 day mamlr failed to cross upward and is now headed down again on the S & P and Dow. Also there has been a crossover of MDI and PDI in the Directional Movement System, as well as rise in the ADX. I'm not very familiar with the system, but I believe that is an ominous sign. The MDI and PDI last crossed negatively on 10/22. As for the 13 day RSI, the little peak under 50 continues to grow, and the little peak in the ROC 13 under 0 is a real one now. Your list: Big trendline breakdown on AOL--under 80, on volume. YHOO broken as well. Now that the packleaders are headed for trouble, how about the secondaries and further down the food chain: LCOS has fallen back near to it's trendline PVTL--below its trendline SEEK--sitting right on support of 22, but fell through uptrend line THNK falling apart XCIT below trendline SEVL--no longer shortable This looks like prime rib to a shortseller...stocks you can learn to "love"...as David J would say. Ocote

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