CHARTS AND TA, A UNIQUE APPROACH Message Board

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Strategies & Market Trends : CHARTS AND TA, A UNIQUE APPROACH

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To: flickerful who wrote (1367)	8/27/1998 9:45:00 PM
From: stan s.	of 1391

Hi flickerful...pretty quick trip to support! 3 quick indices charts. Leaving in the morning, back Monday night or Tuesday. All these are daily charts. DOW's resting on a support line, nicely oversold, appears to be waiting. Stochastics could drop a bit more. (blue line, upper box) This has been about a 13% drop from mid July. geocities.com Here's the !OEX. This one broke support the last few minutes of panic but not by much. Given the nature of today's decline I wouldn't be overly concerned unless it fails to recover tomorrow. Failure and it could see 505. geocities.com When I say broke support, I'm referring to closing support. Like the DOW it's well oversold now except for the 5,3,3 stochastics. This is generally where significant rallies emanate....it's a question of when. Okay the NASDAQ...once again this is probably the key. Broke several areas of support today. geocities.com Could be headed to 1650....if it is, it will further delay the rally. Again, these areas of oversold are where the good rallies usually start, the indices have dropped in the neighborhood of 13-18% some of the smaller indices even more. Generally these are where corrections end. The weekly charts are ready for a rally......we'll see. Stan

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