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Strategies & Market Trends : Point and Figure Charting
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To: Ms. X who wrote (8282)10/6/1998 4:03:00 PM
From: Ms. X  Read Replies (2) of 34811
 
Market fixins.

DJIA has been volatile ( don't need me to tell you, do you..). Here
is what it looks like on the P&F chart.

8300 O *
8250 O -------------------------
8200 O
8150 O X X <--Resistance level.
8100 O X X O X O
8050 O X O X O X O The DJIA is hanging in there. Not
8000 O ----X --X O X O X O ----- falling to the lows in September is
7950 O X X O X O X O X O a good sign. Just like in '87 and '90
7900 O X O X O X O X O O the market isn't doing a "V" off the
7850 O X O X O X O X O bottom but rather creating a base.
7800 O X O X O X O X O
7750 O X O X O X O ------O X <--Has reversed back up
7700 O X O X O X O X
7650 O X O X O X O X
7600 O X O X O X A X
7550 O X O X O O <- Stayed at support here at 7550
7500 O X O this now sets up a triple bottom support at 7550
7450 9 <--Didn't come down to low in September
7400
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