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Strategies & Market Trends : Point and Figure Charting
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To: wizzards wine who wrote (4204)6/28/1998 7:02:00 PM
From: Mr. BSL  Read Replies (2) of 34809
 
Hi Preston, now that we have the apples (NYSEPB) figured out, help me out with the oranges! Check out p.25 under "Vertical Count for a Short Sale" I believe that calculating the bottom target is done using the same approach used for short sales.

For the DJIA:
I count 10 boxes down in the first sell signal column off the previously last buy signal column in the (20 x 60). 10 boxes times 3 times 20 = 600 points off of the 9080 peak in the last column of X's before the first sell signal off the top. This vertical count down to 8480.

I count 7 boxes down in the first sell signal column off the actual last buy signal column in the (50 x 150). 7 boxes times 3 times 50 = 1050 points off of the 9050 peak in the last column of X's before the first sell signal off the top. This vertical count down to 8000.

If the above is correct, we are looking at a DJIA target range of 8000-8480. That why I surmised that the 8150 -8500 range may have come from vertical counts.

Please check out the above calcs.

your friend,

duke60
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