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Strategies & Market Trends : Point and Figure Charting

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To: james ball who wrote (8741)	10/16/1998 8:58:00 PM
From: Bwe	Read Replies (3) of 34811

Tom, The Dow 50 x 150 chart had a valid break of the Bearish Resistance Line today at 8,300. The BRL was drawn in above the 9,300 Dow high in July. Also significant was the Dow's ability to break above 6 previous tops made in September/October in the 7950 - 8150 area. It can now be said that the BRL is no longer in charge of this chart. Amen. The BSL is now at 7,650 and a Bearish Support Line is at 7,750. The Bullish price objective is now 9,150 and the first trend line resistance comes by way of a Bullish Resistance Line at 8,650. Have a great weekend. Bruce

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