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Strategies & Market Trends : Point and Figure Charting

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To: wlheatmoon who wrote (11622)	12/16/1998 7:23:00 PM
From: Smooth Drive	Read Replies (2) of 34809

Hello All, A few tid bits from today's Investors Intelligence/Chartcraft Hotline: The NYSEBP has reversed down to Bull Correction at 51.5. The ASE Bullish % is still Bull Alert at 36.2; the OTC is Bull Correction at 55.5; the DJIA is Bear Confirmed at 50.0 (I keep this one myself) and the Opt is Bear Alert at 56.9 The current Sentiment Index is still very bullish with % of Advisors Bullish at 56.8 -- down slightly from last weeks 57.4. Caution is urged and Bull% should drop at least to the 50% area where moves often "pause". Patterns that used to take months to develop now occur in week and aniticpated pullbacks could happen quickly. Watch stoploss points, raise as permitted, take profits! All 18 changes in the broad industry group were down. New Bear Confirmed for Chemicals, Foods, Forest Products and Transport-Non Air. The Semi-Conducters went to Bear Alert at 60.4 Take care and keep your powder dry, Eric

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