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Strategies & Market Trends : Point and Figure Charting

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To: ViperChick Secret Agent 006.9 who wrote (3837)	6/18/1998 6:55:00 AM
From: Bwe	Read Replies (3) of 34820

Lisa, just a couple of quick things about Bear Confirmed status in the NYSEBP. Chartcraft sums up the action called for as follows: "Very limited upside chances and look for puts and shorts". Bear confirmed is basically a sell signal in the indicator. If I recall from Tom's book, he urges individuals to take note of the "field position" at which the bear confirmed signal is given. The closer to 70% the bear confirmed signal is given, the more dangerous the implications of the signal. The market has already undergone a nasty decline and we have not had a bounce into a column of X's on the NYSEBP as of yet. A move to the low 40's on the chart might be a good place to look for a place that a bounce might occur. Take care, Lisa. Bruce

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