The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Magnatizer who wrote (22692)	11/9/1998 8:14:00 PM
From: Magnatizer	Read Replies (1) of 79269

Market magnets for 11.10.98 Notes: tomorrow will be quite telling as to the near term direction of this run. Dow was able to climb back above the 8895 uptrend today which I thought was key. Watch the 8895 trendline to give support it is crucial. Nasdaq tested 1846 and did not like it down there. It looks like the index to watch this week. Nasdaq 100 had blown through support so that is telling me the Nasdaq has one wide (large, med, and small cap) rally going on. Small cap techs on my screen were pretty much green all day. Still like the run at 2007 trendline. Important support is 1766. SP500 Held up well today. 1116 is very important support. Still like the run at 1157 trendline. I realize it is early in the profit taking scenario but if today was representative of the degree of profit taking we are going to see in the short term then get the the seat belts on. Mond Tues Wed Thurs Fri DOW 30 Close 8976 8898 day prior Monday Friday (if sloped) 7933 -1043 -965 7933 7933 7933 8105 8124 -871 -788 8115 8119 8124 8143 -834 -756 8143 8143 8143 8352 -624 -546 8352 8352 8352 8561 -415 -337 8561 8561 8561 8770 -206 -128 8770 8770 8770 8895 8917 -81 3 8906 8912 8917 8923 8941 -53 30 8932 8937 8941 8980 4 82 8980 8980 8980 9037 9060 61 145 9049 9054 9060 9254 9295 278 366 9275 9285 9295 9398 422 500 9398 9398 9398 Nasdaq Close 1857 1861 day prior Monday Friday 1405 1407 -452 -456 1406 1407 1407 1434 1430 -423 -428 1432 1431 1430 1478 -379 -383 1478 1478 1478 1528 -329 -333 1528 1528 1528 1550 -307 -311 1550 1550 1550 1561 1548 -296 -303 1555 1551 1548 1606 1599 -251 -257 1603 1601 1599 1622 -235 -239 1622 1622 1622 1609 1588 -248 -257 1599 1593 1588 1694 -163 -167 1694 1694 1694 1766 -91 -95 1766 1766 1766 1783 -75 -79 1783 1783 1783 1846 -11 -15 1846 1846 1846 1910 53 49 1910 1910 1910 1973 116 112 1973 1973 1973 2007 2015 150 148 2011 2013 2015 2055 198 194 2055 2055 2055 SP500 Close 1141 1130 day prior Monday Friday 948 949 -193 -182 949 949 949 970 962 -171 -162 966 964 962 978 -163 -152 978 978 978 1007 1008 -134 -123 1008 1008 1008 1018 1020 -123 -112 1019 1020 1020 1024 -117 -106 1024 1024 1024 1025 1028 -116 -104 1027 1027 1028 1032 1033 -109 -98 1033 1033 1033 1042 -99 -88 1042 1042 1042 1064 1066 -77 -66 1065 1066 1066 1070 -71 -60 1070 1070 1070 1116 -25 -14 1116 1116 1116 1157 1159 16 28 1158 1159 1159 1162 21 32 1162 1162 1162 1204 1208 63 75 1206 1207 1208 ht david

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