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Strategies & Market Trends : Point and Figure Charting

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To: Mr. BSL who wrote (12368)1/7/1999 8:19:00 AM
From: james ball  Read Replies (4) of 34811
 
Thanx Dick. I'll forward it to Sue. By the way the NYSE Bullish Percent reverses up today back from Flashing Yellow to Green. They got the intersection fixed. This should push to above 70%. Seasonality is in our favor. Notice on BP chart how Jan, Feb & Mar are very often in X's and then April brings the reversal. It is normally the second reversal following a reversal up from below 30% that takes coast to coast. Many things happening below the surface, Money Supply growing very rapidly and could be a problem down the road. M2 rose again last week by 18 billion. Yes is probably going to 108 as Greenspan said he would like to see. Stamps went up 1cent yesterday. The next reversal from above 70% if it happens will not just be a slow your speed down like this last reversal was. Keep your stops set and don't abandon your discipline like I heard someone on CNBC said to do yesterday. Tom Dorsey
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