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 (26766)	2/28/1999 2:43:00 PM
From: Magnatizer	Read Replies (1) of 79188

Market Magnets 3.1.99 notes I am adding a hold rating to the weekly indicators. I have been using just one indicator for my weekly so I only had buy or sell. I added one more indicator which allows for a hold rating. Hold rating means one indicator is still in buy mode and the other in sell. DOW 30: Weekly hold. Trendline cross Tuesday in the 6440 area. Would have liked to have seen a move up into the cross over. Mid term technicals (2-5 weeks) are mixed to down. Need a fairly strong up week to get them bullish again. Nas Comp: Weekly hold. Looks to be heading toward a test of the 2240 uptrend. Mid term techs similar to Dow. SP500: Weekly hold. Mid term techs similar to Dow. 85 line still the focus as the weekly close was 4 points shy of it. I think thats close enough to consider it still in control. Fell out of a experimental channel last Thursday and failed to recover Friday. This, combined with the weakening mid term techs, lead me to believe the market is going to go into a short term (very short term) dip or bear trap. Will not last long as IRA money will be coming in shortly and the economy is still very strong with no inflation, low unemployment and record GDP. Some say its a sign of a blowoff, I say its a sign of continued technological innovation. Mond Tues Wed Thurs Fri DOW 30 Close 9307 day prior Monday Friday (if sloped) 8561 -746 8561 8561 8561 8561 8980 -327 8980 8980 8980 8980 9285 9307 -22 9291 9296 9302 9307 9319 9340 12 9324 9330 9335 9340 9398 91 9398 9398 9398 9398 9452 9475 145 9458 9464 9469 9475 9853 9914 546 9868 9884 9899 9914 9923 9959 616 9932 9941 9950 9959 9651 344 9651 9651 9651 9651 9905 598 9905 9905 9905 9905 10158 851 10158 10158 10158 10158 Nasdaq Close 2288 day prior Monday Friday 1846 -442 1846 1846 1846 1846 1910 -378 1910 1910 1910 1910 1973 -315 1973 1973 1973 1973 2055 -233 2055 2055 2055 2055 2161 2168 -127 2163 2165 2166 2168 2247 2253 -41 2249 2250 2252 2253 2316 28 2316 2316 2316 2316 2497 209 2497 2497 2497 2497 2507 2515 219 2509 2511 2513 2515 2655 367 2655 2655 2655 2655 2970 682 2970 2970 2970 2970 SP500 Close 1238 day prior Monday Friday 1116 -122 1116 1116 1116 1116 1162 -76 1162 1162 1162 1162 1185 1186 -53 1185 1186 1186 1186 1223 -15 1223 1223 1223 1223 1242 1243 4 1242 1243 1243 1243 1262 1263 24 1262 1263 1263 1263 1273 1277 35 1274 1275 1276 1277 1300 62 1300 1300 1300 1300 1326 1328 88 1327 1327 1328 1328 1409 1411 171 1410 1410 1411 1411 1447 209 1447 1447 1447 1447 85 line in bold ht david

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