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Strategies & Market Trends : Point and Figure Charting

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To: Bwe who wrote (11011)	12/6/1998 9:35:00 AM
From: Jerry Olson	Read Replies (2) of 34816

Morning Bruce... thanks for the update on DELL...as an interested party<g>, i always like your imput... The difference with me & chartseer, is simply he's bearish & i'm bullish... I looked at the P&F charts on the SPX & DJIA...there is a marked difference... The SPX rallied off 1135 straight up to 1190 "the top"...reversed down to 1155 support...reversed again to 1175 recently and then hit 1155 support again and held...it now sits at 1176, needs to break 1190 and go to 1195 a DTB signal...it's just 18 points away... as for the DJIA, i've felt all along that 8800 was strong support, and we have not reversed back up 3 boxes yet..9050 would do that...however the DJIA would have to move all the way up to 9400 to break a DTB signal... there is a definate message here...The market's health in general via the SPX, is doing a lot better than the DOW....a good sign...500 stocks vis a vis 30.... So for DELL to move, you're right the market would HAVE to help it...as Judy said it's range bound for now...DELL's 50dmva is around 60 bucks...it's hit that twice and held...it would take another sharp correction from these levels to break that number... There is a super buying opportunity in DELL if it moves to 59-60...IMO this stock will lead the techs higher from that selloff...of course if it prints 69, then all bets are off..74 would be a BSB(blue sky breakout}......:>} A very good friend Ike, is very nervous right now at the 1180 strike for the SPX, he's saying we will have a very difficult time breaking thru it...even though we're only 4-5 points away... on the other hand...2 heavy hitters I follow with their respective system signals are BOTH on a buy....that's TT & GZ...Judy knows them... Markets are fun huh??? now what about the indicators on P&F??? Bruce what are they saying.... NYSEBP, and the other 2 early indicators...where are they at as of today??? and thanks again for your read....

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