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Strategies & Market Trends : Point and Figure Charting
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To: Ms. X who wrote (3438)6/6/1998 7:55:00 PM
From: R Stevens  Read Replies (3) of 34811
 
May I request an interpretation on the chart of the Nasdaq? I think
the fortunes of the broader index will weigh heavily on the outcomes
of Dell and AOL in the next few weeks. Is the current little rally
a chance to go short again on Dell or an opportunity to take a long
position. Maybe the broader market outlook can shed some light on that.

Many Thanks, RS

NASDAQ COMPOSITE
1870 X O X O X O X X
1860 X O X X O X O X O X O
1850---------------------------------X O 4 O X O X O X O X O ------------------
1840 X O X O X O X O O O Med
1830 X O X O X O X O
1820 X O O X O X O
1810 X O X O O
1800---------------------------------X ----O X ------------O X ----------------
1790 X O O X O
1780 X X O X O X <lower tops
1770 | X O X O X O X
1760 | X O X O X O X
1750---------------------+-------X 3 X --------------------O --6 ----- <current support level
1740 | X O X
1730 | X O X
1720 | X O X
1710 | X O
1700---------------------+-------X --------------------------------------------
1690 | X
1680 | X
1670 | X Bot
1660 | X
1650---------X ----------+-------2 ------------------------------* ------------
1640 X O | X *
1630 X C X O | X *
1620 X O X O X O | X *
1610 X O X O X O | X *
1600-X O X O --O --------X ------X --------------------* ----------------------
1590 X O O X O X X *
1580 X O 1 O X O X *
1570 X O X O X O X *
1560 X O X X O X O X *
1550-X --------O X O ----X O X O ------------* --------------------------------
1540 X O X O X X O X
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