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Strategies & Market Trends : P&F Research
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To: H.W.Melle who wrote (146)7/25/1998 5:10:00 PM
From: Ms. X  Read Replies (1) of 389
 
Hi HW,
If you are looking to buy HM I would hold that thought for now.
Currently it is trading below its bearish resistance line (which
means the trend is negative) The relative strength is negative and
-/- which means in O's and on a sell signal, underperforming the
market. Daily momentum is negative while the weekly and monthly are
positive. It is also on a sell signal with lower tops. Also, the
sector is in a column of O's and the status is Bull Correction
(negative). If you want to buy I'd wait for it to create higher
bottoms showing demand is coming in and for it to break the bearish
resistance line. I'll illustrate below on the chart for you.
Check out the point and figure thread. We talk all about P&F and what
is going on with the market. Message 5311718
Love to have you join us!
Jan I am

17.5 * |
17.0 --* * --------+---------------------------
16.5 X X * |
16.0 X O X O * --* +---------------------------
15.5 2 O X O * A *
15.0 X 3 --O X --X O * ------------------------
14.5 X 4 5 O 9 O *
14.0 X ----O X O 8 O ----* <--Bearish resistance line (brl)
13.5 O X O X O * Top
13.0-------O --6 X O ----X --* Needs to trade up to here to break brl.
12.5 7 O X O X<--Lower top below brl
12.0---------------O ----X O X O * ------------
11.5 B 4 O X O
11.0---------------O ----X 5 --O 7 Looks like it may create another
10.5 Sell Signal-->6 X lower top if it reverses here
10.0---------------C 2 --X ----O X ------------
9.5 O X O X O
9.0------------ ---O X O X --------------------
8.5 O X O
8.0------------- --1 ---------------------- Bot
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