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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (7118)	9/10/1998 5:17:00 PM
From: Bwe	Read Replies (1) of 34811

Good move in the oil service sector today, Judy. I've been nibbling in the group over the past 2 weeks. Yesterday's reversal in the Oil Service Bullish % was very positive. This was the first reversal in the group since May. The group last reversed up from under the 30% in January, and that reversal saw the Bullish % move from 14% to 65% in May. The sector needs the commodity to cooperate, but our sector barometer suggests that oil might continue higher from here. All 3 of the crude charts have Bearish Resistance Lines to deal with as do mostly all of the stocks in the group, so it's a trading environment. Lots of long tail down and low pole patterns and a smattering of double top buy patterns as Jan has listed for us. Take care, Bruce

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