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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (3384)	6/4/1998 10:08:00 PM
From: Ms. X	Read Replies (1) of 34811

Hi Judy, Bay broke a double top and the bearish resistance line today. Good move for bay. The sector and RS are still weak so would look for a pullback for a trade. Might still be a little risky for long term but interesting for traders. Vertical count (somewhat unreliable until we see where it reverses) gives it 44. 42 * \| 41 X * \| 40 -----------A O * ----------------------+-------------------------- 39 X O * \| 38 X X O * \| 37 X 9 O X O * \| 36 X O X O X O X * \| * 35 ---X O X O --O X O ----X * ------------+-------X * --------------- 34 X O O X O X O * \| X O * 33 O 8 O O X B O * \| X O * Top 32 O X O X O X O * \| X 3 * 31 O X O X O X O X * \| X O * X <--breaks the BRL 30 -O --------------O X O --O X --X O X --+-------X O X ------X ----- 29 O X O X O X O X O X X 2 O X O 6 <--Double top break 28 O O X O X C X O X O X O X O X O X X Good pullback area too. 27 O X O O O 1 O X O X O X O X O X 26 * O X O X O X O * O X 4 X O X Med 25 ---------------------* --O ----------O X O --* --O X O 5 O ------- 24 * O X * O O X * 23 * O X * O X * <--Higher bottoms 22 * O * O * 21 * * \| *

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