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 (26842)	3/1/1999 10:58:00 PM
From: Magnatizer	Read Replies (3) of 79183

Market magnets 3.2.99 notes Dow has a tline crossover today (tuesday). Lack of a upmove Monday into the crossover left me leaning more toward a short term correction starting this week. Todays action did not cause the mid term techs to turn up. Nas comp: still looking like it shall test 2247 utrend. 2055 is a likely downside target for accumulation on a short term correction. SP500: If my data from QP is correct (which i do not believe to be the case) then we touched the 85 line today. I think i have bad data and therefore am basing my read on the SI data provider. 85 line was not touched today. SP was more sluggish then the dow and nas which leads me to believe we are so much closer to a correction than we were Friday. A return to the 85 line would be encouraging. A return followed by a failure to hold will almost certainly mean a dip to low 1100s. I know it is darkest before dawn and the weekly indicators are not on sell yet. I feel it is a time to take caution and follow exit stategy when they present themselves. I am stuck in a few positions for not being loyal to TA and I hope this is the final lesson in stops for me. Mond Tues Wed Thurs Fri DOW 30 Close 9307 9325 day prior Monday Friday (if sloped) 8561 -746 -764 8561 8561 8561 8980 -327 -345 8980 8980 8980 9285 9307 -22 -35 9296 9302 9307 9319 9340 12 -1 9330 9335 9340 9398 91 73 9398 9398 9398 9452 9475 145 133 9464 9469 9475 9853 9914 546 543 9884 9899 9914 9923 9959 616 607 9941 9950 9959 9651 344 326 9651 9651 9651 9905 598 580 9905 9905 9905 10158 851 833 10158 10158 10158 Nasdaq Close 2288 2295 day prior Monday Friday 1846 -442 -449 1846 1846 1846 1910 -378 -385 1910 1910 1910 1973 -315 -322 1973 1973 1973 2055 -233 -240 2055 2055 2055 2161 2168 -127 -132 2165 2166 2168 2247 2253 -41 -47 2250 2252 2253 2316 28 21 2316 2316 2316 2497 209 202 2497 2497 2497 2507 2515 219 214 2511 2513 2515 2655 367 360 2655 2655 2655 2970 682 675 2970 2970 2970 SP500 Close 1238 1236 day prior Monday Friday 1116 -122 -120 1116 1116 1116 1162 -76 -74 1162 1162 1162 1185 1186 -53 -51 1186 1186 1186 1223 -15 -13 1223 1223 1223 1242 1243 4 6 1243 1243 1243 1262 1263 24 26 1263 1263 1263 1273 1277 35 38 1275 1276 1277 1300 62 64 1300 1300 1300 1326 1328 88 91 1327 1328 1328 1409 1411 171 174 1410 1411 1411 1447 209 211 1447 1447 1447 ht david

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