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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (7283)	9/15/1998 1:10:00 PM
From: Mr. BSL	Read Replies (2) of 34809

Hi Jan. I got out my magnifying glass to check the Chartcraft short term indicators. The 10 week has gone from 9.6% to 15.9% as of last Thursday. Friday and yesterday were up days. This indicator goes Bull Alert at 16%. We should be there. The thirty week is at 14 1/2% as of last Thursday and needs to get to 16%. The Hi/LO is getting stronger. Remember about 4 - 6 weeks ago we got a bunch of selling climaxes but no market bottom? I believe that the bullish sentiment was a lot higher then than it is now. Last week we had one buying climax and 89 selling climaxes on the NYSE. It looks like a bottom, walks like a bottom and talks like a bottom. We just have to wait for the NYSEBP to confirm the move off of the bottom. See you in the Pharmacy after I check out the bargains in the Telecom department!

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