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Strategies & Market Trends : Point and Figure Charting
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To: Bwe who wrote (7538)9/22/1998 10:31:00 AM
From: Ms. X  Read Replies (1) of 34811
 
Ideas.

Microsoft:
Triple top buy signal that held recently. RS is strong.
Sector is in bull alert at 20%. Daily momentum turns
positive at 111. Vertical count is 125 (unconfirmed).

120 ---------------------
118 X
116 X O
114 X O
112 X O X
110 7 O X O ------------
108 X 8 X O X <--Signal given last week.
106 X O X O X Held this through recent
104 X O X O X X X market volatility.
102 X O O X O X O X
100 X ----O X O X O X --
99 X O X O X O
98 X O X O X
97 X O X O X
96 X O X O
95 X ----9 ------------

CSCO:
Great pullback yesterday. RS very stron and daily
momentum turns positive at 65. Vertical count is 79.

70 -------------------X ---------------
69 X X O
68 X O X O
67 X O X O
66 X O X X O <--Move to 66 would complete
65 -----------X O X O X O --------X --- a bullish catapult.
64 X O X O X O X O
63 7 O 8 X O X X X O
62 X O O X O X O X O
61 X O X O X O X O
60 -----------X --------O X O X O X O -
59 X O X O X O X O <--Pulled back yesterday
58 X O 9 O O after triple top.
57 X O X Good support at 58
56 X O X
55 -----------X --------O ----------------------

One to watch: GLX
Creating a wide trading range (in between bold).
Hasn't violated the bullish support line and the RS is positive
and close to a buy signal. Momentums negative with daily turning
positive at 63, weekly at 62 and monthly at 68.

67
66 X
65 X O **********************************
64 X O ? <-- Would break
63 X O X ? resistance and
62 X O X X X X O X ? would be bullish.
61 | X O X O X O X O X O X O X
60 +---X O ----------------X O X O X O X O X O 9 -
59 | X O X X 7 O X 8 X O O X
58 | X O X X O X O X O X O X
57 | X O X O X O X X O O O X
56 | X O X O X X O X O X O
55 X --2 O X O X O 4 O X O X ---------------------
54 X O X O X 3 X O X O X 5 X *
53 X O X O O O X O X 6 *
52 X O X O O X *
51 X O O *
50 ********************************************
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