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 (26348)	2/15/1999 8:22:00 PM
From: Magnatizer	Read Replies (2) of 79201

Market magnets 2.16.99 Notes On the spreadsheet Mondays values will actually be for Tuesday, Tuesday for Wed.... Friday is next Mondays values SP 500 lost its hold above the 85 line Friday. Happening much sooner than even my most bearish side would have thought I feel we are in for some serious downside if we do not recover VERY QUICKLY. Like by Wed quick. Value of the 85 line is 1239 Tuesday. The three indexes in the market magnet updates are all still on weekly buy rating but the strength of the indicators are weakening and could turn to sell ratings in the next week. If SP500 does not recover above 85 line by Tuesday my focus will switch to the nasdaq. It looks more likely to retest 2235 utrend as opposed to last Friday read of a test of the 2487 overhead utrend. If the 2235 utrend fails (likely) then 2055 becomes my first downside target Mond Tues Wed Thurs Fri DOW 30 Close 9275 day prior Monday Friday (if sloped) 8561 -714 8561 8561 8561 8561 8980 -295 8980 8980 8980 8980 9238 9259 -37 9243 9249 9254 9259 9270 9289 -5 9275 9280 9284 9289 9400 9421 125 9405 9411 9416 9421 9398 123 9398 9398 9398 9398 9691 9766 416 9710 9729 9747 9766 9847 9884 572 9856 9866 9875 9884 9651 376 9651 9651 9651 9651 9905 630 9905 9905 9905 9905 10158 883 10158 10158 10158 10158 Nasdaq Close 2322 day prior Monday Friday 1846 -476 1846 1846 1846 1846 1910 -412 1910 1910 1910 1910 1973 -349 1973 1973 1973 1973 2055 -267 2055 2055 2055 2055 2141 2150 -181 2143 2146 2148 2150 2235 2241 -87 2237 2238 2240 2241 2316 -6 2316 2316 2316 2316 2487 2497 165 2490 2492 2495 2497 2497 175 2497 2497 2497 2497 2669 2718 347 2681 2694 2706 2718 2655 333 2655 2655 2655 2655 2970 648 2970 2970 2970 2970 SP500 Close 1230 day prior Monday Friday 1116 -114 1116 1116 1116 1116 1162 -68 1162 1162 1162 1162 1181 1183 -49 1182 1182 1183 1183 1223 -7 1223 1223 1223 1223 1239 1240 9 1239 1240 1240 1240 1259 1260 29 1259 1260 1260 1260 1265 1269 35 1266 1267 1268 1269 1300 70 1300 1300 1300 1300 1323 1324 93 1323 1324 1324 1324 1405 1406 175 1405 1406 1406 1406 1447 217 1447 1447 1447 1447 ht david

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