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Strategies & Market Trends : Point and Figure Charting

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To: Smooth Drive who wrote (9374)	11/8/1998 6:34:00 PM
From: Bwe	Read Replies (1) of 34809

Big E, I now routinely draw in RTL's on all stocks I chart. I just received the first book of the set of three of Chartcraft's Quarterly options chartbook, and it's always a thrill to once again start drawing in the trendlines on the many stocks i follow. With regard to Intermediate Downtrend Lines (IDTL) (X,O,X,O pg's 172 - 174 in Aby's book), take a look at the ITDL for VTS. Drawn above the X column from July at $36. Fits the description of IDTL's perfectly and that resistance line on VTS's chart is a great and important trendline. VTS finally broke through with a double top buy signal at $21 and $22 would be icing on the cake with a Triple Top buy. Turned the stock back once prior at $21 and VTS has rebounded to take out this resistance. This trendline break is telling me that the BRL is next to go. Check it out. Your pal, Bruce

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