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Strategies & Market Trends : Point and Figure Charting
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To: Ms. X who wrote (5157)7/28/1998 11:06:00 AM
From: Ms. X  Read Replies (2) of 34811
 
Hi All - DJIA

I know, you all love to watch the Dow. We must have a ton of people
out there that own the Dow 30 :-p
Here is the chart. I want to show you a few things.
Reversal up from 8900 would be nice because that would be another
higher bottom. Dow would have to move to 9050. However, with all the
new sell signals, Advance Decline line going to pot etc...
I'd say 8600/8700 where support is, isn't too far fetched.

9450 |
9400 |
9350 | X
9300 | X O
9250---------------+-------------------X ----------------------X O ---
9200 | X X O X X X O
9150 | X O 5 O X O X O 7 O
9100 | X O X O Lower top-->X X O
9050 | X X O X O X O X O X O X O
9000---------------+-----------X O X O X O --O --O X --X O ----X O ---
8950 Move up from Jan. low X X O X OTrple bttm-O X O X O X O
8900 | X O 4 O O X O X O X O X O<--Over 50% retracement
8850 First sign of breakdown--> O O X 6 X O X X
8800 | X O X O O X O X O X
8750---------------+-------X O ---- Double bottom-->O --O X O X -----
8700 | X 2nd Triple bottom--> O X O
8650 | X O X
8600 | 3 O <--Last near term support
8550 | X
8500---------------+-------X -----------------------------------------
8450 | X
8400 | X
8350 | X
8300 | X *
8250---------------+-------X ----------------------------------* ?<--Bad news!
8200 | X *
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