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Strategies & Market Trends : Point and Figure Charting

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To: Smooth Drive who wrote (11215)	12/9/1998 12:32:00 AM
From: Ms. X	Read Replies (3) of 34817

For DJIA and NASD watchers. The DJIA moved to 9050 and pooped out. That is considerably lower than the high of 9350. Next reversal down on the chart will be at 8900, also a double bottom. 8850 would be the first double bottom break. Support at 8800 and 8750 would be the second sell signal in the uptrend. (This is if this happens of course). Next support after that is 8350. The momentum has reversed negative. The Nasdaq is almost to the top of its trading band at 2060. 2030 reverses the chart back into O's but no where close to a sell signal, that would come at 1970. Support also at 1930. Momentum is still positive. SP 500 has moved to resistance at 1190. Strong support at 1155, 1150 would be a triple bottom break. Moving average is positive.

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